The amount spent by UK shoppers on smartphones is expected to increase by 243.5% over the next four years, while spend on both phones and tablet devices will increase by over 230%.
According to research by online marketing firm Webloyalty and retail analyst Conlumino, the m-commerce sector in the UK is currently worth £9.7bn and is expected to grow £43.9bn to £53.6bn by 2024.
The study predicts the amount spent by UK shoppers on mobile devices will be worth as much as the combined sales of more than 30,000 stores by 2019.
A survey of over 2,000 UK consumers carried out in August this year found one in three shop via mobiles in the office, with 2.8% shopping during meetings at work.
One in ten Brits also use their phone or tablet multiple times during the day to browse, purchase or review items.
“Our research found that 41.3% of consumers will buy a product on another device after viewing it on mobile, and a further 11% of shoppers will purchase an item in-store, resulting in £18 million in additional sales for UK retailers,” said Guy Chiswick, managing director of Webloyalty Northern Europe.
“The key message here is for retailers to make the most of mobile — a strong social media presence, targeted personalised emails and the offer of digital wallet payments will aid in the pursuit of mobile sales conversions.”
The clothing sector is among the categories set to profit most from increased mobile sales however, Chiswick added: “Retailers in all sectors need to be conscious that more and more consumers will be shopping via a mobile route, whether that’s via an app or the website itself. Ensuring that these channels are optimised is essential for success in the coming years.”