Shopping, even for major items like a wedding dress, is now something people do while strolling through the park. In 2011, U.S. mobile commerce sales surged 91.4%. By 2015, analysts estimate total mcommerce sales will reach $31 billion — a 363% increase from 2011.
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Many retailers are investing heavily to respond to this opportunity, yet there is still a major disconnect between consumer expectation and experience. Mobile commerce is seeing a 69% shopping cart abandonment rate, which equates to a massive missed opportunity for merchants.
There are three simple rules to follow that can directly impact how your brand can combat shopping cart abandonment. By taking these steps, you’ll see real benefits from mcommerce, in terms of both revenue and customer loyalty.
Simplify your mobile site
More than half of smartphone users are more likely to purchase from retailers with a mobile-specific website, but less than 5% of retailers actually have one. One of the most overlooked steps is optimizing your site for mobile devices. Here are some tips for making the shopping experience as easy as possible for your customers.
Limit SKUs: Evaluate your assortment and only show categories that shoppers are likely to purchase on the go.
Limit the text: Scrolling through pages of text on a small screen is challenging. Only include text that is essential to your products.
Optimize your images: Size images appropriately for a small screen, but offer close-up views so shoppers can get a better feel for the product.
Prioritize speed
More than 71% of consumers expect a site to load as quickly on a mobile device as it does on a desktop. A one-second delay can result in a 7 % loss in conversions. Here are some ways to make the mobile shopping experience faster:
Reduce the clicks: Multiple steps and lengthy forms are the fastest triggers to abandonment. Shorten the process and require customers to only register once to streamline future purchases.
Keep it simple: If a page load only needs one step, don’t make it two so you can capture an email address or add a flashy image.
Pay attention to your pages: Page redirects and long page load times on mobile sites are the biggest frustrations among consumers.
Take security seriously
A consumer study by AT&T’s Sterling Commerce and Demandware found that 28% of consumers are concerned about their security when shopping on their mobile phones. To increase mcommerce adoption, your customers must trust that your mcommerce channels are safe. Here are some ways to better communicate and enforce security for mobile devices:
Authenticate: The SIM card and mobile ID provide an easy, secure authentication. Link the mobile ID to payment information to create a seamless, highly secure shopping experience.
Take sensitive information off the device: Your payments provider should store credit card information securely in the cloud so customers are confident that their data won’t be at risk if their device is lost or stolen.
Always require the CVV code: Even if you have the credit card number in your system, require customers to enter the CVV code prior to purchase. It’s an extra step, but it gives customers peace of mind.
Rodger Desai is co-founder and CEO of Payfone.