E-commerce has been around for years of course. But now you need to get ready to exploit the newest business opportunity in online trading… mobile commerce!
Consumers in the UK will spend £19.3 billion a year using their smartphones and tablet computers within the next ten years… compared with £1.3 billion spent today… according to the latest research from Barclays Corporate.
Currently, food and groceries are the most popular purchases made using mobile commerce – with sales of £300 million for supermarkets and grocery stores this year. By 2021 this figure is expected to top £5 billion. Electricals are the second most popular mobile purchase with £290 million spent ‘on the move’ this year. By 2021 sales are predicted to reach £2.1 billion. However, personal care (which includes hair care, beauty, dental and baby products) will enjoy the strongest growth of all sectors – with m-commerce sales likely to rise from £63 million now to £3.1 billion by 2021.
Richard Lowe, Head of Retail & Wholesale at Barclays Corporate, says that although m-commerce is still a relatively small niche at the moment it will grow faster than any other retail channel – by 55% – over the next five years.
This compares to expected growth of 8% for ordinary e-commerce and 1.6% for retail sales, while mail order will decline by 1.2%. The growth of mobile sales will, in part, be driven by increases in smartphone ownership and new technology such as 4G and Near Field Communications.
For the latest ideas, articles and free blueprints on how you could cash in on the m-commerce boom keeping checking back with us here at What Biz Opp.