#Winning with Social & Mobile
Commerce platform MarketLive has released results of a survey that shows retailers who "get" mobile and social right are those that will be winning in the months and years to come.
MarketLive's Performance Index report for Q3, 2014 illustrates the shifting shopping habits of consumers. For example, mobile is creating a trend toward lower conversion rates and shorter time-on-site metrics caused by more shoppers researching products on their mobile phones and completing their purchases at a later time. Compared to 2013, however, traffic coming from smartphones is up 62 percent and revenue a whopping 141 percent - so it's sort of a digital wash.
The report also revealed that merchants should not ignore the power of social and refer-a-friend recommendations - which now account for 2 percent of all traffic and 1 percent of all revenue. One of the hidden gems in the report is that email a a traffic and revenue source increased 24 percent.
"We've been watching social recommendations for some time, waiting for it to register a significant contribution to revenues at the cash register. We're finally seeing a small-but-tangible signal now in our Q3 Performance Index, and that result is corroborated by our recent Holiday Survey results as well," said Ken Burke, founder and CEO of MarketLive. "The strong performance in mobile is something we've been expecting, as mobile commerce has been growing dramatically for several quarters already. At this point, it should send a cautionary note to all merchants that a strong mobile strategy is no longer optional, but rather a necessary and critical component for brick-and-mortar and online retailers alike."