100 to 249 Dollars is the Mobile Spending Sweet Spot
Shopping with a mobile device is becoming almost as common as shopping online with a computer. And according to a new survey by JiWire it’s not just the number of shoppers that’s increased, the amount they’re willing to spend is also climbing fast.
Take a look at this chart:
At a quick glance, it’s kind of silly. I know people have concerns about mobile security but if a hacker is after your credit card it doesn’t matter if you’ve charged $10 or $1,000 dollars. But when you look at the psychology behind it, it makes total sense. There’s something frivolous about shopping via a mobile phone so it’s no big deal to toss $20 at something but when it comes to buying big ticket items, that’s a whole different story.
Only a year ago, just 15% of mobile shoppers felt comfortable spending up to $249 on a purchase. Now, that number has jumped up to 23%. There’s also been an increase in the people willing to spend up to $499. What’s odd is the drop at the $1,000 mark. But that could be less about the mobile use and more about the fact that less people are willing to buy any item over $1,000 mobile or not.
Clarification Note: I’m reading this chart to mean, “what is the highest amount that you’re comfortable spending.” That’s why the low amounts barely register.
The best news is in the last column. Only 14% of people, vs 32% in 2011, said they weren’t willing to make a purchase using a mobile device.
Here are two more facts:
When researching a product costing more than $100 on their mobile device, 69% of people do it from home. This is more proof that mobile shopping is less about actual mobility and more about convenience.
20% of people conduct research as a direct result of seeing an ad. That number isn’t as high as we’d like it to be but it’s proof that the instant nature of mobile is making advertising more effective.