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The Impact Of Digital Wallets On Mobile Retailing

  • Written By Livie
  • Posted December 16, 2015
  • 2 minutes Read Time

You know how much consumers like shopping on the go, and you know how we’re always saying mobile optimisation is the way forward? Well, just before you get too cosy, let’s talk abandoned mobile commerce shopping carts and mobile transactions that don’t go all the way to the checkout. Turns out that official estimates say over 95% of mobile transactions get abandoned! Yes, 95%. Although people spend endless minutes of the day shopping on mobile devices, there’s a gap between that browsing experience and ultimate sales conversions.

What puts off shoppers from completing mobile purchases? Things like having long forms to complete, and the need for small-screen input of security details, and having to go to great lengths to compare prices or view wider ranges of products. Wouldn’t it be good to see this turned around – to cash in there and then on the mobile shopper’s browsing time and get them all the way to the checkout in the same sitting? Mobile retailing keeps improving, with the upgrading and increased the size of mobile screens being a big help.

Digital wallets have also made a big difference. These mobile payment systems are tailor-made to specific devices, with super-fast screen loads and automation of things like location issues, efficient notification and security settings. Digital wallets do away with the need for complicated form filling and long-winded box checking. The ease and efficiency of digital wallets mean that it becomes much more straightforward and intuitive to shop with a mobile device.

Digital wallets are highly secure smartphone apps that combine convenience with interactive ease, with fast loading product pages and a direct and straightforward route to conversion. Reviews and information about features, comparisons and you could even describe the act of fingertip shopping as fun! They can hold loyalty card details too so that you earn points in your transaction without having to search out a separate card. Our prediction is that digital wallets are likely to help close the gap between mobile browsing and buying figures.