Mobile is set to dominate online shopping in 2020 thanks to a 20 per cent increase in shopping app downloads to 5.4 billion last year.
App Annie’s The State of Mobile 2020 report has revealed the scale of influence mobile is set to have on the retail industry this year following mobile commerce’s most prosperous year to date.
App store spend hit $120 billion last year, while the average IPO valuation of mobile companies jumped 825 per cent.
Mobile usage grew by 10 per cent last year and the average user now spends 3.7 hours on their phones.
This is great news for retailers as, according to the report, there is a strong correlation between time spent on devices and both instore and online sales.
Looking past sales, it suggests that mobile can also have a dramatic affect on research, consideration and fulfilment, as an increasing number are turning to their phones to manage deliveries.
Though mobile can help both physical and digital retailers, digital-first shopping apps had 3.2 times more average monthly sessions per users compared to apps from bricks-and-mortar stores.
Physical retailers can also benefit however, as Nike demonstrated in the third quarter of 2019 after its digital business grew 42 per cent thanks to “innovative app features that enhance the in-store experience, including product reservations and foot scanning technology to give shoppers an accurate shoe size”.