Mobile Commerce Growth in the UK
A research group, RetailMeNot predicts that Brits will spend an astounding sum of 14.95 billion pounds via m-commerce retail transactions for the rest of 2015. That’s an extra of 6.54 billion pounds or an increment of 77. 8 percent to what was spent by Brits in the UK last year. As it is, mobile commerce already accounts for 22 to 30 percent of global digital retail transactions.
And according to Gartner Inc., a world leader in IT research, the current digital income revenue of 22 percent in the US is set to increase up to 50 percent by 2017. This proves how widespread mobile commerce is getting, which is hardly surprising considering the expected increase in the number of people who use iPads, Androids and other handheld devices.
So what is it for m-commerce in the UK?
Around one million pound is expected to be spent every 35 minutes for m-commerce retail transactions in the UK for the rest of 2015. According to RetailMeNot’s senior vice president, Giulio Montemagno, the true driving force for website retail transactions is m-commerce with over one pound in four pounds being spent via m-commerce transactions in the UK. UK is expected to account for 39 percent of Europe’s 37.9 billion pound m-commerce retail transactions in 2015.
These statistics show the direct impact of mobile commerce. But there is the indirect impact. An estimate of three quarters of handheld device users visit a website with shopping in mind. If you are looking to increase your sales and reach wider target audiences you should consider adding mobile commerce to your digital strategy.
What are the main reasons for the rapid progress of mobile commerce?
One is the expected technology improvement of various mobile digital assistants like Cortana and Google Now. These assistants are expected to take on more than just filling out credit card information within the next one to two years. Another reason for the rapid progress of mobile commerce transactions is the enhancement of mobile payment wallets to encourage more customer trust in alternative payment method, or APM. According to Worldpay’s Alternative Payments report in 2014, APM is due to surpass credit card payment within the next two years.
Considering the possible massive growth of mobile commerce in the UK and potential for huge sales via m-commerce retail transactions in 2015, it seems wise to make the move to using mobile platform for your business now.
If you are looking for a digital agency which would make your business grow online contact Adeo Group teams in Glasgow, Newcastle or London. Our team is highly experienced in mobile commerce, responsive web design and feature rich ecommerce shop development.