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Report: Nearly $16 billion in m:commerce lost over 2013 holidays
The 2013 holiday season has been written down as a success for most etailers and brands. According to comScore the total online spend surpassed $46 billion; the National Retail Federation lists the overall spend at just over $601 billion. But, according to Jumio data, about $16 billion was left behind - at mobile counters.
According to Jumio, mobile commerce missed out over the 2013 holidays, despite a stronger-than-average spend and 2013 being the hottest mobile shopping season so far. Their data indicates nearly $16 billion was left on the mobile table because of abandoned mobile carts.
One of the most common reason shoppers didn't complete those mobile purchases? Payment friction.
"While consumers abandon mobile shopping carts for a variety of reasons, from slow network speeds to high shipping costs, the most significant among them is entirely under a retailer's control - removing payment barriers," said Daniel Mattes, founder and CEO, Jumio. "On the whole, retailers with mobile apps have done a remarkable job with most aspects of their mobile shopping experience and this season's numbers certainly show that. However, checkout pages and payment methods have not kept pace with what smartphone devices and services can do today to streamline those processes. This cost the industry billions of dollars this holiday season. Good news is that we expect that number to diminish as new technologies take root."
The Jumio report also shows:
• 51% of mobile shoppers abandoned carts because they didn't feel their credit card info would be 'safe'
• 47% abandoned carts because of payment friction
• 41% said checking out was 'too difficult' over a mobile device
• 23% said their purchase would not go through, so they left the mobile store
Image via Shutterstock
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