We’ve shifted into mobile-first lifestyles. Smartphones are capable of providing the news, helping us communicate globally and giving us a platform to shop for whatever we want from the palm of our hands. Mobile shopping is huge. More than 60 percent of smartphone users have made an online purchase from their phone in the last six months. It’s been reported that the vast majority of today’s shoppers use a smartphone inside an actual store to compare prices, read product reviews or search for alternative store locations.
Catering to mobile-first lifestyles is just good business. Amazon began 1995 as a small company that sold goods over the Internet. Today, it’s reached Fortune 500 status and operates in at least 16 countries. Amazon is a great example of how mobile shopping and ecommerce are picking up speed across the globe, especially in large mobile markets. Understanding trends in these markets can help ecommerce businesses capitalize on increased demand overseas, and ultimately, increase revenue. Here’s our list of 2017 Global Shopping Trends from major mobile markets:
More than half of the world’s mobile subscribers are located in this market, which includes the Philippines and China. The biggest shopping trend to look for in this region is has to do with mobile payments, which have increased 48 percent since 2012. According to a recent survey, Asia Pacific currently leads the world in mobile payments with more than half of its consumers using their mobiles to pay for good or services at the point of sale. Mobile wallets are poised for growth. This also includes cryptocurrencies such as Bitcoin, which recently faced government regulations in China and Japan on exchanges due to its increasing popularity.
Why is this important? Understanding how transactions are made in international markets may force you to adjust your business strategy, which includes localizing content for payment apps that are different than other international markets.
More than 40 percent of the apps being downloaded in India are social networking apps. In 2016, EY projected the country’s social media ad spending to include by more than 15 percent. Confirmed by the Retailers Association of India, social media investment will include bigger budgets than any other digital tactic. Retailers will increase their spend in online banners, pay-per-click campaigns and search marketing to reach even more shoppers across social networking platforms.
Other international markets have started moving away from banner ads and click bait, so if you’re doing business in India, be prepared to adjust your advertising content accordingly, by getting content localized in the format the market will respond to.
In the U.S., November and December drive 30 percent more ecommerce revenue than any other month of the year. Four out of five holiday shoppers in the U.S. are using their smartphones to make a purchase or help inform one. It’s important to note that having a successful mobile platform or business strategy is key during the country’s holiday season. Another shopping trend in the U.S. worth exploring is interest in sustainable products. Because American consumers are so fluent with using the Internet before they make purchases, they’re now interested in knowing more about the materials that make up the products they’re purchasing. Additionally, these consumers value transparency in the brands they buy from.
The biggest takeaway from consumers in this market is that your company needs to be clear in it’s mission and values. For example, you can explain how products are made or describe what drives your business. Be sure to engage localization professionals who can help you articulate the best way to communicate this to the respective market.
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