Spending via mobiles and tablets to reach £23.1 billion by 2018: new study
A new study has predicted that spending via mobile phones and tablets will accelerate over the next five years, growing from £7.9 billion in 2013 to hit £23.1 billion in 2018.
The research by Verdict shows that although retail growth will be boosted by improved economic conditions and investment, the major driving force will be greater tablet proliferation and the resulting cannibalisation of laptop spend.
“Cannibalisation of spend has had a major impact in market sizes as mobile phones and tablets have become more mainstream shopping devices, often replacing desktops and laptops”, said Verdict analyst Matthew Rubin. “Mobile phone spend has grown rapidly, though it remains relatively small, while tablet spend has grown from nothing to almost twice the size of mobile phone spend in just the two years to 2012, and that trend has continued into 2013.”
The study found that 38% of online shoppers researched goods in store prior to purchasing online. Rubin added: “This appears to be a major concern for retailers with a physical presence. However, with only 7% of mobile phone shoppers completing transactions in a store; there is still a major opportunity to convince them to make the transaction through the store itself or through its own website.
“This requires strong customer service and engagement, but with 57% of online shoppers comparing prices between websites, it is also essential that retailers with homogenous products match or come close to pureplay pricing.”
Verdict’s mobile and tablet data was collected following a survey of over 10,000 online shoppers who were asked about their shopping habits in March 2013.
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