4 November 2011 - 9:33am | posted by | 0 comments

Consumer mobile spend expected to grow to £2.5bn by 2016 says PayPal

Consumer mobile spend expected to grow to £2.5bn by 2016 says PayPalConsumer mobile spend expected to grow to £2.5bn by 2016 says PayPal

Consumers will spend £2.5bn shopping through mobile in 2016, claims a report by PayPal.

The five-year forecast commissioned by PayPal predicted that the market will grow by an average of 42% each year, meaning that by 2016, it will be worth around £2.5bn, while it was also discovered that mobile sales represent 1.5% (£438m) of current overall online retail sales.

Each mobile shopper currently spends an average £100 per year in 2011, which is expected to grow to £180 a year by 2018.

Ticketing retail is expected to grow by 46.6% each year, while the deals and voucher market will see online spend grow by 44.4%. Fashion is expected to grow by 42.9%, followed by Health & Grocery (42.1%), Media (40.4%) and Computing and Appliances (39.6%).

Cameron McLean, general manager, Merchant Services PayPal UK, commented: “Mobile shopping is a growth market for UK retailers. The convenience of a connected device that can be used almost anywhere will lure increasing numbers of UK consumers into mobile buying. Our report shows that this consumer pull will be matched by a retailer push, with mobile-savvy retailers offering slick, sophisticated mobile experiences that rapidly become a key part of an overall multi-channel strategy.

“PayPal was created to let people make mobile payments. Over a decade later, mobile has come of age, and we expect to handle over $3.5 billion in mobile payments globally in 2011. The act of paying for something should be as seamless as the decision to buy it, and that’s where we can help retailers grow their mobile business. Over a million PayPal UK customers have sent a payment on their mobile.”

Be the first to comment on this article: sign in or register.

Latest Projects from the Profile Hub

THE CO-OPERATIVE BANK BRAND ADVERTISING CAMPAIGN

30/10/2014
Creating a brand campaign for a high street bank is always...

Rock of Ages on Tour

30/10/2014
CONTRACT START/END DATE September/October 2014 DESCRIPTION...

Reed Learning Personalisation with Sitecore

30/10/2014
Reed Learning, a leading provider of training courses and ...

First-time cruisers? It soon becomes a long-term love-in…

29/10/2014
Since July 2013, Cruise Nation and Rooster PR have been on...

Brand Campaign for 123RF

28/10/2014
The Challenge Help 123RF stand out against big-name image...