Mobile Shopping To Stage Double Growth By 2014
I came across the results from a mobile retail study by retail researcher Conlumino, which suggested that the amount of money UK consumers spend on purchases made via their smart devices will more than double next year, maintaining the strong momentum seen in recent years.
M-commerce is already enjoying unprecedented growth, with deals conducted via smartphones and tablets having jumped by 55% in 2012 against the previous year. Currently, the potential of mobile is hindered by low speed and connectivity issues, but the launch of 4G is set to change that, providing for a possible 115% uptick in mobile shopping over the next 12 months. According to the researcher, during this period the number of smart devices will exceed the number of PCs in the country.
According to Columnino, the growth is achievable as 4G coverage is expected to reach 98% of the country within a year. This could provide for a surge in mobile shopping by £1.8 billion a year as consumers will take advantage of the faster connections and become more likely to shop via their gadgets, the Telegraph reported. As much as £800 million of the amount will be spent by existing mobile shoppers and the rest will come from new users.
At present, smartphones are used by about 30% of UK consumers during their shopping trips, chiefly for checking prices when in-store and reading reviews, but just 10% use their devices to buy products.