Product discovery is the best way to influence consumers on mobile. Looking at a massive survey of mobile and e-commerce journeys, Qubit found that product discovery, rather than mobile payment, should be the mobile focus of retailers if companies want to increase sales in this channel.
According to the study released by Qubit, mobile product discovery can impact digital revenue by up to 33%.
"We’re making significant investments in AI-powered product discovery for mobile because we see real uplift opportunity across a fragmented shopping journey that’s only connected through a mobile device," said Graham Cooke, CEO of Qubit.
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The study showed that improving product discovery also impacts 19% of all digital sales and increases an average of 24% in the area of fashion. Mobile-influenced sales increased 93% in 2017, compared to 2016, with some retailers reporting that one in three digital transactions was a result of mobile browsing.
Still, customers seem to be more engaged on mobile than computers in the product discover phase of the shopping journey and as they move through the session, engagement sees a dramatic drop off.
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With such an enormous amount of products to choose from, retailers need to offer consumers relevancy more than ever. In a survey of more than 4,000 respondents from Qubit, 67% of consumers said payment methods were not a barrier to purchase on mobile. And both U.S. and U.K. customers are willing to buy on mobile if discovery is not frustrating.
What was most likely to encourage consumers to make mobile purchases? Almost half, 47%, responded to a faster or easier browsing experience; 44% said if finding exactly what I wanted was easier; 35% said if discovering new products was easier; and 33% said if it was easier to pay.
For those mobile sites that consumers cites as their favorites, 57% of consumers said they favored the site due to its effort to personalize.
"The surprise was the US consumer response to the question [I would complete more purchases on my phone if]," Qubit's CMO Leah Anathan told FierceRetail. "A whopping 56% of US consumers said they would purchase more on mobile if it was easier to find products they like. It says that in a world where consumers are inundated with products and inspired by experiences on Pinterest, Spotify, and Instagram; one of the biggest opportunities for retailers is better product discovery on mobile."