A new survey from Ingenico Group and InternetRetailing reveals that 93% of online retailers believe mobile innovation affects profitability, but only 40% describe themselves as mobile first. The research further reveals that while most retailers appreciate the value of being mobile first and of mobile innovation within their business, there's a wide gulf between their aims and current capabilities. The in-depth research, The Impact of Innovation in the Mobile Customer Journey, was undertaken by Ingenico ePayments, the online and mobile commerce division of Ingenico Group, in conjunction with InternetRetailing.
Three quarters (75%) of respondents cited a frictionless experience as an essential part of their commercial offering, with one retailer describing the line between conversion and abandonment as 'paper thin'. Focusing on the user experience (UX), particularly at the point of payment, supported in local languages, payment options and currencies, will encourage trust and boost conversion significantly.
Retailers also want to engage customers with the new checkout innovations: more than half (54%) are planning investment in gamification and a quarter regard chatbots as "essential".
"AI chatbots are increasingly effective at engaging customers with personal interactions, but the real challenge is turning those engagements into sales," comments Gertjan Dewaele, Product Intelligence and Innovation Manager, Ingenico ePayments. "Payment-enabled chatbots offer huge opportunities to sell without the need to switch apps."
"Our customers have also found gamification to be hugely effective at amplifying a campaign," continues Dewaele. "30% of winners will share their success on social media, drawing huge amounts of organic attention. It's often far more effective than a regular discount campaign."
Liz Morrell, Research Editor, InternetRetailing states, "Our survey results demonstrate that retailers know the impact of mobile innovation on both customer satisfaction and profitability but are they delivering that? In today's lightning speed world, all retailers need to have mobile innovations on their radar – whether it's currently a priority for their business or not."
The research conducted by Ingenico ePayments and InternetRetailing used a wide pool of respondents and case studies with some of the UK's most recognisable brands to demonstrate the importance of a mobile-first approach.
Retailers clearly recognise the dangers of friction in mCommerce, battling against a small screen, limited time and potentially slow connections. But innovation isn't just about improving the flow of the experience. It's also about driving excitement and something new for the customer – encouraging loyalty, engagement and, ultimately, consumer spending.
Download the full whitepaper paper The Impact of Innovation in the Mobile Customer Journey here.