VANCOUVER, BC--(Marketwired - Oct 20, 2016) - A new report from Mobify provides the first comprehensive mobile funnel benchmarks for brands and retailers that want to compare their performance against large e-commerce sites. The report helps companies understand where, how and why customers choose to enter or abandon the purchasing funnel on mobile. The Mobify 2016 Q3 Mobile Insights Report also provides specific, actionable steps for improvement, such as reducing checkout abandonment, increasing conversion rates, and optimizing product pages for mobile conversions.
With mobile commerce expected to grow at three times the rate of e-commerce1 and industry watchers predicting 60 percent growth during the 2016 holiday shopping season, there has been little to no data available on the mobile funnel to help retailers benchmark their performance -- until now. Among the Mobify Insights Report's key findings:
- Product display and listing pages get more visits than the homepage, since shoppers land directly on these pages during 80% of all visits.
- Average order value (AOV) has no effect on the rate at which shoppers view their carts, but it does affect the checkout rate: A shopper is 27% more likely to visit the checkout if the mobile site has a low AOV.
- 44% of mobile checkouts are abandoned due to key points of friction at login, shipping/billing, and review
"We work with a sophisticated set of customers who clearly see mobile as the biggest opportunity for growth, but there have been no industry benchmarks available on the mobile funnel to gauge their performance," said Ben Terrill, global vice president of customer success at Mobify. "With this report, we compiled mobile funnel benchmarks from a large volume of shopper data in order to identify opportunities to boost revenue through better mobile customer engagement."
The disjointed nature of mobile has broken the traditional funnel, so marketers need to pay careful attention to where customers enter and abandon the funnel on mobile. The fragmented customer journey is made up of many "mobile moments," making it difficult for retailers and brands to lead customers on a straight path from awareness to conversion. With actionable data and specific recommendations from the Mobify Mobile Insights Report, retailers get detailed guidance, such as how to create a high-converting product display page, how to use push notifications when shoppers abandon their carts, and how to implement new technologies like Progressive Mobile, which can make the checkout process two to four times faster.
Download the new Mobify 2016 Q3 Mobile Insights Report for more benchmarks and actionable insights.
Mobify™ has invented The Mobify Platform, a leading mobile customer engagement solution for retailers and brands that want to boost revenues, keep up with customer expectations, and protect their competitive edge. The core of Mobify's platform is Progressive Mobile and Engagement Marketing. Progressive Mobile delivers a unified customer experience across mobile web and apps, while Engagement Marketing builds customer relationships through push notifications and store drivers. Leading global brands including Lancome, Burlington, Dollar Tree, Matalan, BT, Crocs, Carnival Cruises, Bosch, Superdry, Eddie Bauer and Tommy Bahama generate extensive revenue through the Mobify Platform and rely on Mobify to grow their customer lifetime value. www.mobify.com
1 Paypal Mobile Research 2014/2015 Global Snapshot