Mobile shopping has seen strong growth in the United Kingdom
IMRG Capgemini, a prominent retail industry association, has released a report highlighting the growing popularity of mobile shopping in the United Kingdom. Many consumers in the UK have begun to use their smartphones and tablets to shop online for products that they are interested in. These people also purchase these products directly from their mobile devices, taking advantage of discounts and other deals being offered by retailers. As mobile shopping becomes more prominent throughout the country, many UK retailers are evolving to accommodate a mobile-centric audience more effectively.
Consumers are showing favor for shopping for and purchasing products from their mobile devices
According to the report, mobile purchases now account for 32% of all online sales in the United Kingdom. Consumers have become quite comfortable with the concept of mobile commerce and have shown favor for the convenience that it represents. The report shows that the majority of mobile purchases have to do with apparel and fashion, but many people also use their mobile devices to shop for and purchase electronics and other sorts of products.
Tablets may become the dominant mobile shopping platform
An estimated 70% of the United Kingdom’s populace currently owns a smartphone or tablet. As mobile commerce becomes more popular, many consumers are reporting that tablets offer a more enjoyable shopping experience. Approximately 12 million tablet devices were sold in the United Kingdom in 2013 and many retailers are beginning to fashion their mobile commerce initiatives to cater to tablet devices specifically. Tablets may soon become the most favored mobile shopping platform, but smartphones currently boast of that honor.
Consumers remain concerned over the security of mobile commerce
While consumers have shown their eagerness to participate in mobile commerce, they have also expressed serious concerns. The majority of these concerns have to do with the security of their financial information. Mobile commerce, as a whole, is still quite new. This can mean that retailers and other groups participating in the sector have not yet come to fully understand the security issues that exist in this field.
Mobile commerce to have significant impact on UK retail industry
The Economist Intelligence Unit, an independent research and analysis firm operating in the European Union, has released a new report concerning the impact of e-commerce, mobile commerce, and social commerce on the retail industry in the United Kingdom. UK retailers have been seeing an increase in demand from consumers interested in using their mobile devices as payment platforms. In response, many retailers have begun adopting mobile commerce systems, such as NFC terminals, as well as bolstering their online presence to be more accommodating of social commerce and e-commerce.
New commerce to make up a third of all retail sales in the UK in 10 years
The report predicts that sales from e-commerce, m-commerce, and s-commerce are to make up more than a third of all sales in the UK within the next ten years. These types of commerce account for roughly 10% of all retail sales made in the UK currently. Social commerce is one of the most rapidly growing forms of commerce emerging in the UK. This form of concept refers to sales made through social media sites, like Facebook and Google+. E-commerce has always been a popular option for consumers that prefer not to visit physical stores, but mobile commerc
e may become the leading form of commerce amongst all consumers.
Mobile commerce may reign supreme
The report shows that mobile commerce is growing in popularity and may soon become the primary shopping medium amongst consumers by 2022. The report suggests that consumers are more likely to make impulsive purchases when using mobile commerce platforms, thus giving retailers even more incentive to become more accommodating to these consumers. Given that many of these consumers are constantly connected to social media sites, both mobile commerce and social commerce initiative may stand to net major gains for retailers in the UK.
More consumers expected to participate in new forms of commerce in coming years
Online sales channels continue to outperform traditional channels. The Economist Intelligence Unit predicts that consumers will favor online channels throughout the next ten years, especially as more retailers adopt mobile commerce services and the availability of NFC-enabled mobile devices grows. Several companies are experimenting with alternatives to NFC technology that may broaden the horizon of mobile commerce, as well. These efforts are expected to bring more consumers into the fold and add further momentum to new forms of commerce in UK and around the world.
