The season around summer is not known for being the most hectic one within e-commerce. Sales usually go down when consumers are busy doing other activities. However, that is not a reason to put development on ice. On the contrary, it’s all the more reason to tweak your online store and keep those sales coming in.
It’s a fact that we are seeing a big increase in shopping on mobile devices globally. Numbers from a Nosto report show that by the end of 2018, 62 percent of traffic for fashion merchants was coming from mobile, as opposed to desktop*. As mobile screens get bigger, consumers are using them even more for browsing and shopping. However, even though mobile has started to dominate when it comes to traffic share, desktop has still been taking the biggest part of the revenue.
According to the report, mobile accounted for 46 percent of revenue in Q4 – compared to 44 percent on desktop. That’s an increase of 9 percent from Q1 2018, and a decrease of 6 percent on desktop. These numbers show that online merchants seem to be doing something right in their mobile stores, right?
Well, yes and no. Even though revenue on mobile is conquering desktop within fashion e-commerce, conversion rates and average order value are still lower on mobile. In other words, there’s some work left to do to keep up with your consumers. If you haven’t given this much thought yet, it should be top priority before summer, since it has been shown that consumers tend to put away their laptops when on summer vacation, leading to a peak in the use of mobile devices at this particular time.
Where to focus your efforts
One obvious thing to have in mind when updating your online store for mobile is speed. Unsurprisingly, the Nosto report shows that consumers tend to spend a shorter time on-site when shopping via mobile. As a merchant, you have to use that time wisely, so that you don’t miss out on sales. This naturally brings us to talk about the checkout.
According to a study from Statista, only 12 percent of consumers in the US find it convenient to shop on mobile. Given the rapidly increasing volume of mobile shoppers, this is an alarming number for merchants. The biggest sources of irritation among the consumers are limited payment options and lengthy checkouts. 56 percent stated that they would buy more if there were more payment options available and as many as 75 percent of US shoppers list the speed of checkout as one of the most important shopping factors.**
The pain points above are exactly what Klarna aims to avoid by offering hassle-free payment solutions. Klarna is Europe’s leading payments provider and a newly-licensed bank. Founded in Stockholm, Sweden, in 2005, the fintech unicorn gives online consumers the option to pay now, pay later or spread payments over time – offering a trusted, frictionless and smoooth checkout experience.
Klarna now works with over 130,000 merchants, including ASOS, Topshop and H&M, to offer payment solutions to users across Europe and North America.
With its different payment solutions, Klarna is shown to be three times faster than a similar payment provider, giving your customers that fast and hassle-free checkout they’re longing for. Actually, it only takes one step to complete a purchase and the customer is done within 25 seconds.***
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A vacation bonus
July is a classic vacation month in the Nordic countries and during your time off you want to – and should – treat yourself. That’s why Klarna has introduced the opportunity for consumers in the Nordic regions to shop now, but pay in August.
Together with Klarna you can let your customers shop from the hammock, taking care of payments after the vacation. And as always with Klarna – you as a merchant gets paid upfront. No risk and no hassle. Only happy customers.
So, Klarna is all set for summer and you should be too! Get in touch today.
*Nosto, The State of Fashion Ecommerce in 2019.
**Statista – Online shopping behavior in the United States