Mcommerce to reach £19 billion by 2021
According to research from Barclays Corporate, tablets and smartphones are responsible for a huge rise in online sales, with the projected figure amounting to 15 times more than the current yearly spend of £1.3 billion.
Food and groceries are still the most popular mobile purchases, accounting for £300 million worth of mobile sales. This figure is expected to reach £5 billion within the next ten years. The next highest seller is electricals, followed by personal care products and services.
Richard Lower, head of retail and wholesale at Barclay's Corporate pointed out mcommerce is still a relatively niche market, accounting for only 0.5 per cent of all retail sales.
"However, with little new shop space coming into play, the real growth opportunities lie on the virtual high street," he added