Mobile shopping predicted to dominate online sales
13 November 2018 - 14:41 by Paul Tissington
New projections produced by Worldpay suggest that the proportion of people carrying out safe shopping online from smartphones will lead to mobile purchases overtaking desktop transactions within half a decade.
In the UK alone the market will generate over £88 billion annually by the time 2022 rolls around, with a number of facets contributing to this rise.
Overall the British online shopping sector will expand by 40 per cent during this period, hitting £240 billion in revenues and representing an annual growth rate of 9 per cent. This shows that while growth is slowing, there is still lots of room for an increase in spending.
Analysts are also convinced that consumers are turning towards mobile shopping not just because it is convenient, but also because it is now far more trusted as an e-commerce option than in the past. People are much happier to part ways with their cash via their smartphone or tablet, allowing retailers to target mobile users and lessen the emphasis on appealing to desktop shoppers.
The UK is currently sitting in third place globally in terms of the amount spent via mobile devices, a fair way behind second place USA and first place China. It is impressive that a relatively small nation is still capable of outdoing its rivals when it comes to online shopping, especially on mobile platforms.
Researchers suggest that the strong and ever-growing network infrastructure available to UK smartphone users means that it is simpler to browse the web, find products and make purchases while on the move. This, combined with the well established passion for safe shopping online that Brits have fostered over the past couple of decades, is sure to catapult the market onwards and even lead to the expectations of industry experts being exceeded.