UK mobile commerce shows impressive growth
A new report from IMRG, an e-commerce association based in the United Kingdom, and Capgemini, a business and technology consultancy firm, shows that mobile commerce is making strong progress in the United Kingdom. The report found that mobile commerce has seen exponential growth in the field of online retail over the last year, with the first quarter of 2013 showing impressive results. This may be due to the growing number of consumers with mobile devices, but could also be due to the new mobile commerce services that are emerging in the market.
Mobile commerce new represents 20% of online sales
According to the report, mobile commerce accounted for 20.2% of the online sales seen in the United Kingdom during the first quarter of 2013. This is an increase from the 15.4% of sales mobile commerce represented in the fourth quarter of 2012. The report shows that mobile traffic to retail sites has been growing quickly as more sites become optimized for use on mobile devices. These sites have also been seeing higher consumer engagement, which has been translated into strong sales.
Retail sector become hive of activity
The United Kingdom has become one of the most active markets in the world when it comes to mobile commerce. The country’s retail sector has been especially aggressive in this field, hoping to engage consumers in a new way and appeal to their changing interests. Several retailers, such as Tesco, have been able to establish a strong foothold among consumers, offering comprehensive mobile commerce services that making shopping and purchasing online easier.
Mobile sales to continue to grow due to consumer behavior
Mobile commerce has not been showing any signs of slowing down in the foreseeable future. Since 2010, mobile commerce sales have grown in the United Kingdom by more than 5,000% and are beginning to represent a significant economic force. As more consumers become interested in the field of mobile commerce, mobile sales will continue to show strong growth well into the future.
UK consumers may be flocking to mobile commerce and abandoning cash
The British Retail Consortium has been keeping track of a surprising trend that has emerged in the United Kingdom. The organization has reported that cash usage among consumers saw a sharp drop in 2012. This trend has been growing more pronounced as consumers grow more reliant on mobile technology. Smartphones and tablets are allowing consumers to engage in mobile commerce, which has lead them to move away from traditional forms of commerce for the sake of convenience.
Consumers are turning to cards and mobile devices to purchase products
The British Retail Consortium has released the results of a new survey that shows the decline of cash usage among consumers. According to the survey, cash usage fell by nearly 10% throughout the United Kingdom in 2012. Many consumers appear to be using their debit and credit cards more often, with others favoring mobile commerce platforms. Notably, physical forms of currency are losing grounds with young, tech-savvy consumers that have a great deal of experience with mobile technology.
Retail sector sees growth in mobile commerce activity
While consumers appear to be moving toward mobile commerce, payments made from smartphones and tablets still represent a small volume of the spending that occurs in many sectors. The retail sector has seen the most activity when it comes to mobile commerce, but spending from mobile devices is still offset by the use of cash and other forms of commerce. Consumers that are not interested in mobile spending are showing interest in another aspect of mobile commerce, however, as they begin to embrace the usefulness of banking applications.
Mobile payments unlikely to completely replace cash for the foreseeable future
Mobile commerce is expected to continue growing throughout the United Kingdom, especially as more businesses begin offering comprehensive mobile services. Mobile commerce may eventually replace the use of cash, but this is not expected to happen for several years. For now, consumers will continue to rely on cash and their debit and credit cards until the challenges that mobile commerce faces have been overcome.
