Mobile consumer spending predicted to double by 2014
New research commissioned by eBay has suggested that mobile spending could more than double over the course of the next year, extending a period of exponential growth for the foreseeable future.
Mobile shopping is already riding the crest of a wave having risen 55% compared with a year ago but even this double digit growth is likely to look paltry next to future gains.
At present the sector is being held back by speed and connectivity problems with current generation handsets but with the arrival of 4G this barrier is being lifted, contributing to a possible 115% uplift in the coming 12 months.
Conlumino based their findings on the expectation that 98% of the UK population will be served by 4G over this period, adding £1.8bn to the UK economy of which £1bn is attributed to new users.
Neil Saunders, a director at Conlumino, said “Retailers today must take every chance to engage consumers, giving them every possible opportunity to buy and interact with their brands. An 'omnichannel' approach is key to making this happen and retailers can’t afford to stand still.”