Are you an eCommerce merchant looking for growth opportunities? Are you interested in opening a high risk merchant account? Do you know what role shopping apps play in the eCommerce sector nowadays? Just read this article and you’ll get answers these questions.
The Role of Shopping Apps in eCommerce
The modern technology goes on evolving and offering new, more advanced opportunities. In the wake of this, the popularity of mobile apps is growing in many sectors all over the world. eCommerce isn’t an exception.
A recent study in the field suggests that eCommerce retailers who aren’t investing in a mobile shopping app are risking to lose lots of revenue. This is according to the Global Commerce Review for Q4 2017 by Paris-based marketing firm Criteo.
According to the study, 44% of all eCommerce transactions at North American retailers were driven by shopping apps. Mobile web accounted for only 23%, and desktop ─ 33%. When it comes to cart abandonment rate, it was significantly lower for shopping apps (21% conversion) as compared to mobile Web (6%).
Retailers’ apps accounted for 44% of all eCommerce transactions for the quarter. The mobile web represented 23% and desktop ─ 33%. Apps’ share of global eCommerce transactions represented 46% in the quarter, which was up 48% year-over-year (YoY).
Open a High Risk Merchant Account to Grow Your Business
In this day and age, merchants can’t do without online payment processing. Only, it’s too important to find a reputable processor to work with. This is especially true of high risk merchants who need to open a high risk merchant account for their business. Look for an experienced and reliable processor that can get you a secure and low-cost merchant account without challenges.
A study by eCommerce and digital agency Visualsoft shows that 98% of brands have a website. However, not many businesses are investing in other sales channels. As a result, they’re losing millions in revenue.
4 in 5 shoppers use a retailer’s mobile app. Only 51% of brands have invested in a mobile app technology. App conversion rates are almost 3 – 4 times higher as compared to mobile sites.
By the way, eBay has recently introduced a pilot with geek website Mashable. It allows purchasing things you saw in images posted on Mashable’s news site. The marketplace has extended this in a deal with Time Inc. to make it possible for shoppers to shop Celebrity looks right from the page with mobile.
With all this in mind, retailers should be serious about investing in their apps. This way, they’ll be able to improve their shopping experience and increase revenue.
Author Bio: Electronic payments expert Blair Thomas co-founded eMerchantBroker, serving both traditional and high-risk merchants. His passions include producing music and traveling to far off exotic places. eMerchantBroker is America’s No. 1 high risk merchant account company, serving both traditional and high-risk merchants.