|By PR Newswire||
|April 11, 2014 07:51 PM EDT||
NEW YORK, April 11, 2014 /PRNewswire/ -- Michael Zimmerman of Prentice Capital Management hedge fund has said he expects a significant percentage of online sales to be made on a smartphone or tablet device by the end of this year - a view that is supported by the latest Mobile Commerce Index data for March 2014. The data sample details a steep rise in smartphone-generated traffic, orders and revenue over the preceding year. (1)
The research shows that Smartphone website traffic increased 101.2% from March 2013 to March 2014, orders placed increased 129.6% and smartphone revenue increased 168.3% (2). In March 2014, smartphones generated 29.4% of total online visits, up 42.7% from March 2013 (62.9% iOS, 36.4% Android). The market share of non-mobile (desktop) visits decreased 21.1% from March 2013 to March 2014.
"Not only are customers shopping more on their phones, they're also spending," said Chris Mason, Branding Brand co-founder and CEO. "Our data shows large numbers of consumers rapidly embracing mobile as a fundamental tool to conveniently connect with retailers."
"Mobile continues to dominate the e-retail landscape," says Tina Spooner, Chief Information Officer at IMRG. "With an increasing number of consumers now using their mobile devices to browse and compare products while in-store, it is no surprise that mobile has become an integral part of retailers' multichannel strategies." (3)
In addition, Zimmerman notes that around two thirds (67%) of multichannel retailers surveyed now offer Click & Collect, a significant increase from 54% in October. The convenience of Click & Collect, lower cost and certainty of not missing deliveries encourages customers to opt for this method, Zimmerman predicts that fulfillment of shoppers orders is poised to be the next big battleground in online retail.
1. Mobile Commerce Index data from Branding Brand
2. "March 2014 Study Shows 168.3% Increase In Retail Revenue..." April 3, 2014, Branding Brand
3. IMRG e-Retail Survey April 2014
SOURCE Prentice Capital Management
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