Verdict details growth of mobile commerce in the UK
Verdict, an independent retail
analyst, has released a new report concerning the growth of mobile commerce in the UK. The report, titled “M-Commerce in the UK 2012,” examined the trends that have contributed to the growing popularity surrounding mobile commerce and what consumers are responding to. The response from consumers is dictating how the retail industry makes use of mobile commerce services and how these services are being incorporated into an overarching business structure.
Growth expected to exceed 500% by 2017
In the report, Verdict predicts that mobile commerce will grow more than 504% from 2012 to 2017. Much of this growth is being attributed to the growing demand for mobile commerce services coming from consumers. The retail industry is eager to meet this demand, introducing new mobile commerce services to better serve customers that wish to use their smart phones and other devices to make purchases of products. Indeed, the retail industry is expected to dominate the UK market in terms of mobile commerce.
Consumers respond well to mobile commerce initiatives
According to the report, Verdict expects mobile shopping and purchases to flourish in the coming years. The report includes the results of a survey carried out by Verdict, which found that 24.8% of consumers claimed they were likely to use their mobile device to research a product before buying it. These consumers also expressed interest in using their mobile devices to purchase goods, a trend that is becoming more popular as more consumers become comfortable with the capabilities of mobile technology.
UK on its way to dominating mobile commerce market
The United Kingdom is quickly shaping up to be one of the most attractive mobile commerce markets in the world. UK consumers have already shown their willingness to participate in mobile shopping and purchases, more so than consumers in many other countries where mobile commerce has established a foothold. If the trends Verdict has seen continue, the UK may be the most robust mobile commerce market in the world.
yPal continues to look for ways to engage the ever growing mobile consumer population. The company has had a keen interest in mobile commerce for some time, and has been eager to offer services to consumers that are interested in making payments using their mobile devices. Initially, PayPal had plans to make use of NFC technology to provide these services to consumers. The technology proved to be less than ideal for the company. Now, PayPal is setting its sights on QR codes.