By: Inside Retail Asia
Shopping apps users are becoming increasingly purchase-happy in what is poised to be mobile commerce’s biggest year so far, according to a recent study by Liftoff.
The report by the mobile-app marketing and re-targeting platform also uncovers key insights into Asia Pacific (Apac) mobile shopping behavior, suggesting the rise of “Mobile Window Shopping” in the region, which is underpinned by the low costs of installing shopping apps and acquiring new users.
Analyzing more than 90.9 billion ad impressions across four global zones, 13.6 million installs and 3.9 million registration and purchase events between April 2018 and April this year, the report identified several trends relevant to the Apac region.
In Apac, users are clearly open to exploring retail apps, with registration rates skyrocketing and acquisition costs dropping year-on-year. But the data points to a surprising new trend – “Mobile Window Shopping”. While users install and register in retail apps with ease, the joint report shows a sizable drop-off at the all-important purchase stage. Apac’s cost-per-first-purchase comes in at US$31.26 (up 13.3 percent year-on-year), coupled with a low 10.1 percent conversion rate.
This could point to a larger retail trend: the demand for a more user-friendly shopping experience. While price tends to dominate purchasing decisions, factors such as having personal engagements with retailers and concerns on whether the retailers can capably fulfill orders are also seen as crucial by mobile shoppers.
“For marketers looking to boost purchase rates, the key is to utilize the data they have, understand potential drop-off points and to segment and target properly,” said Adjust co-founder and CEO Christian Henschel. “Brands can then create and deliver the perfect user interaction strategies for their marketing initiatives. This personalization is key to winning over fickle consumers and building long-term loyalty.”
The article is first posted HERE on June 28, 2019.