Consult Hyperion’s industry forum last week was full of insight into how mobile are evolving fast. There was a range of great content & insight from new online market concepts such as Depop, and from entrepreneurs who ‘fessed up why their previous mobile ventures failed. Also of particular interest was artist Heidi Hinder presenting wearable tech, explaining that it has the potential to bring back the social hub of the physical marketplace – complete with innovative concepts like ‘Hug and Pay’.
The loud and clear message common to each presenter was that convenience is crucial – Christophe Pecquerie of Airtag reported that customers’ mobile baskets were increasing by 30 – 50% – an incredible stat, that suggests that the ease of mcommerce gives customers a positive experience encouraging heightened spending – rather than making the snap decision that they may be more inclined to do in person. Creating a personalised experience that encourages customer loyalty is also key, and clearly, clever upsells have done their bit to boost sales in Airtag’s work with fast food chains.
Basket abandonment remains the biggest challenge – whilst major retailers are seeing that 50% of traffic comes from mobile, only 15% of transactions are currently made using smartphones and tablets, according to Depop founder Runar Reistrup.
Rescuing online deals from basket abandonment is something that we know a thing or two about at Jumio – our technology reduces friction in online transactions, freeing the customer up from having to key in their name, address, card number and other such tedious chores, leaving them more time to browse, shop and enjoy a great mcommerce experience.