Mobile commerce conversion rates are highest in Japan, the U.K and South Korea for Q2 2016 states the State of Mobile Commerce Report released by performance marketing technology company, Criteo. The company claims to have studied 1.7 billion transactions across desktop and mobile sites worth $720 billion in annual sales, covering over 3,300 online retail businesses for this report.
- Mobile Vs Desktop: With close to 55% of its retail commerce transactions done through mobile phones, Japan tops the list of countries in the world with the highest mobile retail commerce transactions for Q2 2016 followed by United Kingdom and South Korea with a little over 50% and 48% of its retail commerce transactions, respectively.
- Smartphone Vs Tablet: For the first time, smartphones have superseded tablets delivering majority of the mobile commerce transactions. South Korea recorded over 95% of its mobile retail commerce transactions were done through smartphones while Japan and Brazil recorded close to 90% and over 80% of its mobile retail ecommerce transactions through smartphones, respectively.
- Apps Vs Mobile Web: According to the report, apps convert 3x more than mobile website in Q2 2016. Globally, 54% of the transactions were driven through mobile apps while 46% of the transactions were driven by mobile web in Q2 2016.
- According to the report, new app users are twice as likely to return within 30 days vs. mobile web users.
- Average order value higher on apps vs mobile web: $127 seems to be the average order value on apps compared to $91 and $100 on mobile web and desktops respectively.
- Apps’ conversion rates highest: The conversion rate for transactions is highest on mobile apps (3x) followed by desktop (2x) while mobile web is the lowest.
- Mobile-friendly websites aid higher transactions: According to the report, countries with mobile-friendly websites seem to have the greatest share of mobile transactions. With close to 90% mobile-friendly websites, Japan has over 50% mobile transactions followed by U.K with little over 85% mobile-friendly websites and nearly 50% mobile transactions. In the third place, with over 95% mobile-friendly websites, South Korea has close to 50% mobile transactions.
- Leading retailers vs Emerging retailers: The report also notes that leading retailers that succeed retaining users and attracting views drive 39% more mobile web conversions more than emerging retailers. The report defines leading retailers as mobile app that attract more products browsed per user than lower tiers while emerging retailers are mobile-commerce enabled apps that are accessible via at least one operating system.
- In Q2 2016, Android has a market share of 68% superseding iOS (31%) although iOS continues to generate the maximum number of mobile commerce transactions done on smartphones with 14.6% compared to Android devices (8.8%).
- In the same quarter, 70% of mobile commerce transactions were done on smartphones compared while the remaining was done on tablets.
- Contributing over 40% to mobile commerce transactions in the U.S, fashion and luxury retail is the category with the highest number of transactions in the quarter followed by Mass Merchants (close to 40%) and Health & Beauty (30%).