As mCommerce Retail Sales Grow, So Should Mobile Experience
Retail eCommerce is growing. And it’s growing fast.
With an increase in eCommerce sales comes increased opportunities for retailers. As a result, a growing number of retailers are turning toward media to increase revenue, with many retailers becoming media networks in their own right. According to a recent survey by Merkle:
- 85% of CPGs are planning to move more marketing dollars to retail media networks.
- 52% plan to do so in the next year.
According to eMarketer: “After almost 50% growth in eCommerce channel ad spending during 2020, advertisers will increase those allocations by another 27.8% this year. One in 8 digital ad dollars will go to advertising on eCommerce properties.”
mCommerce has a growing role in eCommerce revenue. According to eMarketer, “US mCommerce will nearly double its share of total retail sales between 2020 and 2025.”
But as opportunity grows, so does competition. And with the fast growth of mobile, the competition will likely be moving to the small screen. To carve out a piece of the mCommerce media market, retailers need to differentiate themselves by providing strong mobile experiences.
Differentiation based on mobile experiences requires more than just the standard display offerings, especially in-app. Brands expect the same immersive experiences that are offered in other channels.
Offering one-of-a-kind experiences to shoppers when they’re already showing purchase intent is a very strong value proposition for retailers. Providing those experiences in a way that nobody else can, will motivate brands to act.
As you move into the next year of mCommerce, it’s time to ask yourself: What are we doing to differentiate ourselves and attract additional brand ad dollars? And what might happen if we don’t?