Spending on mobile devices will amount to $31 billion in 2016, Forrester predicts.
And what do they stand to lose? A great deal, it turns out. Just take a look at 2011's Black Friday numbers. Mobile devices accounted for 14.3% of all online traffic and 9.8% of online sales on the day after Thanksgiving 2011, according to IBM. On tablets, users are significantly more likely to complete a purchase than on a PC: 4% to 5% on a tablet, versus 3% on a PC, Forrester claims. IDC estimates that more U.S. Internet users will access the Internet via mobile devices than PCs by 2015. By 2016, Forrester predicts that spending on mobile devices will amount to $31 billion. Brands are also missing out on mobile search and advertising opportunities, L2 contends.
“Given the evidence, we appear to be entering the beginning of a persistent mobile era,” Scott Galloway, a professor of marketing at NYU Stern and founder of L2, noted in a statement. “Brands ignore this shift at their own peril."
Despite the broad admonitions, there were some standouts in the index. Beauty retailer Sephora nabbed the top spot, thanks to its robust mobile site, and apps for iPhone and iPad devices. All three feature a rich, browsable library of how-to and inspirational video content, as well tools for online and in-store shopping. The iPhone app also features a barcode scanner and interactive tool that allows users to sample various hues of nail polish. Nordstrom, Macy's, Net-a-Porter and Bloomingdales rounded out the top five.
Given L2's reach in the five industries, the study will no doubt do much to "mobilize" the companies listed therein.