Mobile Shopping Economy Growing Trends
Mobile shopping is a recent phenomenon that has grown rapidly over the last few years. In the year 2004, £15.8B was spent on mobile shopping in the UK. This figure has doubled in only 10 years with figures standing at £33.4B in 2014. One of the reasons for this is the popularity of the mobile phone. It is estimated that 50% of all internet sales in the UK are done over a mobile phone or a tablet.
In the United States 29% of people using smartphones and 28% of people using tables claimed to have made a purchase with the use of their mobile device in 2013. Today many more Americans claim even if they have not made the purchase over their mobile device, they have at least found a product on their mobile device and used this research to go to the store and buy it.
Why mobile payments are important for your business?
In a world where the youth are turning toward the mobile for shopping, it is essential that businesses are able to keep up with demand. Mobile payments are the latest in technology that keeps up with the demand. People look toward quick and easy solutions and mobile payments seems to be the way of the future. Don’t let your business remain in the past but instead keep up with the modern age and add mobile payments to bring your business up to date.
The mobile shopping economy has already seen great advances over the last ten years. As more and more people are encouraged to purchase online, the cheaper prices will act as direct competition for physical shops. This completion may well kill off the physical shop altogether in the same way the supermarket has almost killed the local shop in UK highstreets.