The amount being spent by mobile shoppers grew by more than 60 per cent in the last five years, a new study reveals.
The ‘Agile Consumer 2013’ report, which was compiled by analysts at Cheil Worldwide, shows that 40 per cent of smartphone owners used their handsets to complete at least one transaction in 2013 – with an average spend of £199. In 2008, this figure stood at just £122.
Researchers questioned 1,000 UK smartphone owners about their mobile retail habits. It found that 54 per cent admit to comparing prices on-screen, while 55 per cent say they use their devices to help with purchasing decisions as they physically browse products in-store.
Cheil’s president of retail operations, Simon Hathaway spoke about the current state of the m-commerce market. He was quoted by thedrum.com as saying: “The smartphone has become a key element of how we shop, and all evidence points to it having been a bumper post-Christmas sales period for m-commerce.
“The amount we spend buying items on our phones has almost doubled in the past five years and is set to soar ever higher as it gets easier to buy online.”
The new figures come after it was revealed that growth in the global m-commerce market is exceeding expectations. According to shopsafe.co.uk, US research firm Yankee Group predicted that the industry would reach a value of £1.8 trillion by 2017; this figure, however, has been adjusted to £1.9 trillion.