“Women’s health is often sidelined as a niche market; however, tides are changing and this can be attributed to the rise of the ‘she-economy’, where women are not only playing an increasingly influential role across the health care continuum, but also have higher purchasing power,” says Shruthi Parakkal, Frost & Sullivan’s transformational health analyst.
Potential grows for retailers to invest in apps, increase sales
Mobile web usage has reached a maturity point, but shoppers rarely stay in one place for long, moving in and out of walled gardens, and are still buying on-the-go, with varying levels of frequency, on all connected devices, says a report by Criteo. Highlighting the growing importance of mobile apps among shoppers, the report reinfornces how the “mobile-first” mindset will help inform omni-channel commerce marketing strategies worldwide.
With rise in the mobile usage, the frequency of shopper engagement is also increasing. In India, smartphones contributes 45 per cent of the total transactions (app excluded). The Criteo report, Global Commerce Review, adds that omni-channel strategies help educate shoppers during their winding journey, in turn driving positive online results. Global omni-channel customers offer the highest lifetime value to brands and retailers, generating 27 per cent of all sales, despite representing only seven per cent of all customers.
Stressing how the app has become a crucial touchpoint for a shopper’s journey, the report adds that conversion rates are five times higher on app (about 20 per cent) than on mobile web in the Asia-Pacific region. Globally, advertisers saw nearly a 50 per cent year-over-year increase of in-app transactions, climbing to 46 per cent in the fourth quarter of 2017.
“With increase in smartphone usage, app adoption and mobile browsing is the largest media consumption for Indian consumers. And with this, an interesting omnichannel shopping pattern has also emerged,” said Siddharth Dabhade, general manager, Criteo India.