A Q1 Global Commerce Review, which reveals a rapid increase in the use of smartphones for retail purchases in the UK found that Q1 2018 saw a 66% increase in smartphone purchase growth rate compared to Q4 2017, highlighting the increasing speed at which shoppers are adopting mobile as their primary platform.
Our latest study shows continuing shifts from desktop to mobile shopping, as well as from retailer websites to apps. Today’s shopper is on-the-go and researching across multiple screens, requiring a cohesive, data-driven approach to intersect and influence buying decisions. For retailers with physical stores, app adoption and improved data infrastructure are opening new horizons in omnichannel marketing, with online and offline blending into a seamless and measurable shopping journey.
The top three key takeaways from Criteo’s Q1 Global Commerce Review include:
- Retailers must also prioritise and optimise shopping apps, or risk leaving money and revenue opportunities on the table, as mobile transactions are no longer confined to mobile websites only.
- Consumers shift between devices, environments and walled gardens, but mobile phones are still the preferred vehicle for transactions.
- Matching offline and online data is key to unlocking shopper intent and purchasing power, especially as omnichannel consumers generate the highest lifetime value in terms of sales.
Additional research highlights:
- App Adoption Soars
- European retailers with shopping apps see 25% more of their sales take place on smartphones than those without apps
- Shopping apps generate conversion rates three times higher than on mobile web for UK retailers
- Globally, in-app transactions have increased by 22% year-over-year.
- In North America, the conversion rate on shopping apps is more than three-times higher than on mobile web.
- Mobile Market Maturation
- The growth rate of sales made on smartphones in the UK has increased by 66% in the last quarter, from 19% (Q4 2017) to 31.5% (Q1 2018)
- Mobile accounts for over half of (54%) of all online purchases made in the UK in Q1 2018
- Omnichannel Opportunity
- Despite representing only seven percent of all customers, omnichannel consumers are responsible for 27% of all sales.
- Omnichannel data is key to optimising marketing efforts; retailers that combine offline and online data can apply over four-times as much sales data to inform their marketing strategies.
Criteo is a commerce marketing company that operates an open commerce marketing ecosystem to drive profits and sales for retailers and brands.