09 Jun 22 Useful Ecommerce and Mobile Stats for Fashion Retailers
Last month, AIM attended LA Fashion Digital, an ecommerce conference that included:
- 500 eCommerce professionals from fashion, lifestyle and beauty brands
- 80 speakers from top retailers and technologists
- Panels and discussions on mobile, social and influencer marketing, multi-channel marketing attribution, SEO/SEM, customer acquisition and retention, and many more.
- When certain stores offered gift cards on their site, they noticed that the amount of fraud actually shot up immediately in correlation with the sales of gift cards.
- What do consumers care most about? 1. Price 2. Ease of use of site – UX
- 1/3 of the population in US utilizes Amazon Prime.
- Staying relevant every month is very important. Offering rewards/incentives or reminders on a monthly basis through newsletters, push notifications, contests, etc.
- Online sales as a percentage of physical retail sales has been under-counted by about 1/3 every year for the past 5 years.
- 70% yearly increase in the amount of shopping carts created.
- 73% of online shoppers use the shopping cart to store items to buy later or to use as a shopping list in physical stores.
- Where do people search for products/brands online? 1. Amazon 2. Search Engines 3. Retail Site – in that order.
- Omni-channel loyalty programs like Sephora’s are a great way to drive customer satisfaction and retention.
- Color in site search is up 50%: i.e. shopping for a BLACK dress or RED shoes:
- By adding a color filter or advanced search function, Charming Charlie [for example] has lowered their exit/bounce rate by 70%.
- The use of cash in general retail land stores is declining by 2% every year.
- The number of actual retail stores is also declining.
- A way to garner more traffic around mobile is through app installs. Offering incentives like 10% off or gift cards for downloading a store’s app is a great way to drive that install. Also, push notifications are incredibly beneficial to maintain that relationship between brand and consumer.
- Mobile carts are unifying e-commerce.
- Mobile shopping is highest during the evenings and on weekends.
- Tablets are trending down. Mobile is driving more retail traffic.
- Predicting that next year mobile phones will globally surpass desktop in online shopping.
- Designers have DOD: Desktop Only Disorder – where they only think about shopping via desktop and not via mobile. Mobile Responsive Site Design is key.
- Valid and smooth customer shopping paths on phone create shopping efficiency.
- Removing friction in mobile payment/checkout process is essential. 21% will abandon checkout if it takes too long.
- One click buy buttons are the future of mobile checkout.
- 80-90% of phone time is spent in Apps.
- Supporting multiple/global payment types are crucial in the checkout process.
- ApplePay reduces fraud.
The key takeaway from this keynote is that the world is changing quickly, and if you’re an online retailer, whether in Fashion, Healthy and Beauty, or something else, you better be ready for mobile and online spend.
What have you found to be the most true of these stats? What do you see the future of mobile and ecommerce to be?