Should I use app vs mobile web for better conversion?

As a Shopify store owner who's been battling conversion rates, I've been obsessing over mobile performance. My traffic is majority mobile—around 65%—but my conversion rate is painfully low, hovering around 1.2%. I've heard conflicting advice about whether I should invest in a mobile app or optimize my mobile web experience. Some of my competitors have flashy apps, but development costs are intimidating, and I'm not sure if users will actually download another app. My gut tells me there's a massive opportunity I'm missing. I'm tracking every metric: bounce rates, time on site, add-to-cart percentages—and mobile is consistently underperforming. I need a solution that doesn't require massive development resources but can dramatically improve how mobile shoppers interact with my store. The pressure is real—my ad spend is high, and I can't afford to keep losing potential customers at the mobile checkout stage. I'm looking for a strategic approach that leverages smart technology to understand and convert mobile browsers into buyers.