A survey released last week suggests that the amount of internet shopping sales made via mobile phones will more than double by 2013.
The report, which was carried out by analysts Verdict and Ovum, shows that mobile transactions accounted for a measly 0.6 per cent of total online spending in 2009, but that this will have increased twofold by 2013.
As always, we have been keeping an eye on all things mobile here at UKFast and have certainly noticed the boom in mobile device development. It is therefore no surprise, that the statistics for “m-commerce” are looking so optimistic in correlation with recent product development.
£21.2bn was spent online in the last year alone; however of this, only £122.9m was spent using mobile phones. Astonishingly, in the next four years this figure is predicted to reach a staggering £275m!
It seems that retailers are already reacting to these growth predictions for mobile sales.
Marks and Spencer has recently launched a mobile version of its website, whilst Ocado has created an Android app to add to their existing iPhone offering and widen their mobile shopfront.
On the back of their research, the experts at Verdict and Ovum are confident that the next step for ambitious online retailers is to specifically focus upon developing comparison tools for consumers.
Senior analyst at Verdict Research, Malcolm Pinkerton stated, “Consumers are not spending significant amounts via mobiles and, for now, we believe the true potential for m-commerce is to provide consumers with a valuable tool for research, comparison shopping and retailer interaction.”
And it seems that Pinkerton’s predictions do fall in line with the growth plans of certain online businesses. Retail giant Argos for example, is currently topping iPhone app charts with its tool which focuses upon product comparisons based upon pricing and availability.
If Verdict and Ovum are correct, it seems that we will be seeing more and more retailers focusing upon the development of comparison applications which are easily accessible on mobile devices.
Currently apps such as “Shopper” and “CompareMe” are topping the charts in this arena; however businesses such as Amazon are hot on the heels of independent applications and are clearly looking to cash in on this newly created niche for mobile devices.
Whichever path retailers choose to take however, these new statistics certainly show that mobile applications will become increasingly big business for online retailers within the next few years.