Want to drastically boost conversion rates and online sales? How about an 80%-in-12-months kind of boost? Internet Retailer’s 2015 Mobile 500 report shows the answer’s all about the app. The annual survey projects that mobile commerce revenue is expected to hit $83.78 billion by year’s end up 79.9% from 2013 and nearly half of the year’s mobile sales will come from in-app purchases.
According to the findings, the massive jump is in part the result of innovation in responsive design and app building. Such technology has been the focus of many mega retailers, including Walmart, whose app updates, like the recently added savings catcher, earned them a top 10 spot in the Top 500 list.
Amazon is leading the list with $16.8 billion in projected sales for 2014, despite negative user reviews of its app, and is followed by Apple. The survey shows tablets outpacing smartphones as the most popular means of purchase, but that’s predicted to change as phone screen sizes increase. However, no matter the mobile medium, apps appear to be strong at driving profits, with 42.5% of 2014’s mobile sales by Mobile 500 companies expected to originate in apps.