Report highlights impact of mobile commerce on retail industry
The global retail industry has been struggling to find growth in 2012. Many retailers have been forced to close stores around the world for financial reasons while others have seen only modest gains among consumers. By contrast, the digital retail space has been performing much better, with online sales growing throughout 2012, largely thanks to the emergence of mobile commerce. Research firm IMRG has released a report concerning the growth of mobile commerce and the online retail market in the United Kingdom.
IMRG expects 12% increase in online sales during Christmas season
According to the report, IMRG predicts that there will be a 12% increase in online sales during the Christmas season in the United Kingdom. The firm anticipates that this uptick in sales will push the country’s online retail market beyond $80 billion for this year. Part of this is due to the growing number of consumers with mobile devices. Retailers have taken note of the high penetration of mobile technology among consumers and have begun moving to take advantage of this.
Retail industry beginning to evolve
The online retail space has been undergoing a major evolution over the past several months. Retailers are becoming more accommodating of mobile consumers, hoping to reach a new and highly active market. Many of these retailers have begun developing mobile applications that allow them to provide better service to consumers. Some of these applications allow consumers to make purchases of goods using nothing more than their smart phones, which is shaping up to be a powerful trend during the holiday season.
Dynamic engagement draws more support to mobile commerce
The report suggests that the UK retail industry will see promising growth during the Christmas season, powered largely by the momentum behind mobile commerce. Mobile commerce allows for more dynamic engagement with consumers, especially in physical stores. This engagement may help traditional retailers find success and growth in the wake of a problematic year that has cut into the profits of many companies around the world.