Even though $93 billion will be spent via mobile device or web this year, that number is nowhere near what it could be. Digital content is the fastest growing area of retail this holiday season thanks to the rapid uptake of smartphones and tablets, but online checkout technology is failing for the smaller screens according to an infographic by marketing solutions provider Payvia.
With 8 in 10 online shopping carts ending up abandoned, business are losing up to $3 billion. Payvia has put together an infographic to highlight four major ways to boost sales and inform business of what they are missing out on.
Firstly, Payvia suggests to make full use of mobile marketing by targeting the right people. Tablet owners spend 20% more than laptop owners, and 23% of people spend more time online than offline. The company predicts that 55% of shoppers plan to use a mobile device to shop this year and that 1 in 5 holiday sales will come from a mobile device. Second, Payvia believes that adding a mobile payment option to marketing will help out as well. About 22% of purchases on mobile devices are in response to an ad or email, so merchants can increase the likelihood of a transaction by adding a “buy now” button.
By adding a small increment purchase option, businesses can maximize small purchases. According the Payvia’s infographic about 70% of app spending comes from in-app purchases as people are comfortable making small one-off purchases on a mobile device, the company notes.
Payvia also recommends to integrating carrier billing to existing checkout for mobile users to reduce the amount of clicks needed to add personal data and checkout. This is an important part of the purchase, 44% believe a slow online checkout means transaction failed.