European shoppers to double mobile spend this year
Mobile shoppers in Europe are set to spend £19.8 billion in 2014, almost twice as much as last years spend of £10.7 billion according to new research.The study, commissioned by RetailMeNot, a digital coupon marketplace and operator of Vouchercodes.co.uk.
The study, conducted by the Centre for Retail Research, found that Brits are the biggest mobile shoppers in Europe with a forecast spend of £7.9 billion this year, up from £4.9 billion in 2013.
In addition to finding that the UK is set to spend £8 billion on smartphone and tablets in 2014, RetailMeNot has found that:
• Mobile shoppers in the EU are set to spend £19.8 billion in 2014 almost twice as much as 2013
• Brits are expected to spend almost 1 in every five pounds on mobile devices in 2014
• In the UK in 2014, m-commerce will account for £7.9 billion of a total £45 billion in online sales
• The UK is the most mature m-commerce market in Europe, with 28% of consumers using smartphones for shopping.
Although almost half (48%) of people in Europe now have a smartphone, just one in five (20%) have used their mobile device to access a retail site in the previous 3 months.The study shows that the UK is the most mature m-commerce market in Europe, with 28% of people having used their smartphones to browse online stores within that period, followed by Germany (27%) and Sweden (21%). Shoppers in France and Italy are least likely to use mobile devices to visit retail websites, with just one in ten (12%) of shoppers doing so.
Globally, the study found that the US is home to the world’s biggest m-commerce market; according to the research mobile shoppers accounted for 14% of the £165.3 billion spent online last year with a collective spend of £22.8 billion. Comparatively, m-commerce spend in Europe made up 8% of the e-commerce market, driving £10.7 billion of the total £111.2 billion in online sales. With 13% of British ecommerce spend made on a mobile device in 2013, the UK is Europe’s most developed mobile ecommerce market; mobile devices accounted for £5.8 billion of the £38.8 billion spent online in 2013.
Commenting the results of the study, Giulio Montemagno, Senior Vice President of International at RetailMeNot Inc., says: “The emerging m-commerce market today in Europe and the US resembles that of e-commerce in the early part of last decade. As smartphones and tablets have become increasingly sophisticated, more consumers are using mobile devices to shop. This is a trend we are seeing both in-store and online, with consumers using smartphones to research products, looking for voucher codes and making purchases. Our study suggests that purchases on smartphones and tablets could account for nearly a fifth of all online transaction in the UK this year and some £7.9 billion in sales.”
The study predicts that in 2014, m-commerce is set to account for a fifth (20%) of all online purchases in the US and a total spend of £37.7 billion - about the size of Germany’s entire e-commerce market, which is set to reach £35.4 billion this year. In Europe, m-commerce sales are forecast to hit £19.8 billion, with purchases made on mobile devices accounting for 13% of all online sales. Brits are expected to spend almost one in every five pounds (18%) online on mobile devices this year, driving £7.9 billion of a total £45 billion in online sales.
The research further suggests that the growth in online retail sales made on desktop or laptop computers is set to grow by 11% in Europe and 6% in the US this year, while shopping via mobile channels is forecast to increase by 85% in Europe and 65% in the US. Poland, Germany and France are expected to lead m-commerce growth in Europe, with the market growing by 113% in Poland, 112% in Germany, and 106% in France. While still growing rapidly, the UK has already reached a more mature level, with growth of 62% forecast, the lowest level in Europe.
“The study shows that mobile is now the key driver behind the growth of e-commerce. While sales made on desktop or laptop computers are expected to grow by 9% in the UK in 2014, they are expected to increase by 62% on mobile devices.” adds Giulio Montemagno. “To take advantage of this shift, retailers must adapt by optimizing their websites to mobile devices and ensuring payments are secure.”
Across the 8 European markets covered by the study, computers remain the most popular choice for surfing the web, with 85% of 2013 web activity carried out on a computer, while 10% came from smartphones and 5% from tablets. In the UK, mobile devices accounted for more than a third of web traffic (35%) during the same period, with smartphones accounting for 25% of all Internet traffic. At the other end of the scale, Poland is the least developed market in Europe with not more than 8% of web activity carried out on a computer.