According to recent reports, 2013 is the year online went mobile and we believe that 2014 will be an even bigger year for mobile shopping. Trends are emerging to suggest that consumers crave a mix of technology and tradition when interacting with luxury brands. Consumers buy products and services from these brands because they seek the best products coupled with outstanding service. More than ever before, consumers expect a consistent, exceptional multichannel shopping experience that enables them to shop and complete transactions in-store, online and now via their smartphones and tablets.
Mobile is one trend that is quickly expanding and accounts for a growing number of retail transactions. Consumers spend more time on their smartphones and tablets interacting with online retailers than on their laptops or desktop computers. Fifty-five percent of all time spent with online retail in June 2013 occurred on a mobile device, finds web and mobile measurement firm, comScore. Forty-five percent occurred on desktops and laptops. Specifically, smartphones accounted for 44 percent of retail Internet minutes while tablets accounted for 11 percent, comScores reports. Consumers also turned to their mobile devices for Cyber Monday purchases, which is now the new Black Friday for online shopping. According to the IBM analysis, mobile devices accounted for more than 29 percent of this year’s Cyber Monday online traffic. Smartphone behavior is now rooted in the daily lives of consumers and they are more likely to shop on retailers’ mobile websites than other mediums.
Users expect that sites they visit will operate correctly (and look nice) on their Smartphone device and, if they don’t, the user will most likely not return. If a consumer is able to swipe through a selection of products on their mobile device rather than using a scroll bar, those retailers are going to outperform those who continue to use desktop style websites. Fifty-seven percent of smartphone users visit a retailer’s online website or app while in a retailer’s store, comScore reports. While a mobile presence is how consumers do business today, luxury retailers must provide mobile features and product categories that enhance the consumer experience.
Online shopping has grown enormously in the past few years, and consumers are reaching more for their phones and tablets to complement their in-store shopping. It’s predicted that consumers will make more purchases via their mobile phone than physically with their credit card in 2014. If luxury retailers are able to keep up with the latest trends in mobile technology, this will help them to stay ahead of the game in the industry.