Us Brits like to shop! And now that we have shopping at our finger tips there is no stopping us. In fact it has been estimated that we will spend a huge £14.95 billion via our mobile phones1 this year.
M-commerce is continuing to grow in popularity, especially amongst millennials, who are browsing, researching and purchasing on the go. According to research from RetailMeNot mobile spend is set to increase 77.8% this year – up from £8.41 billion in 20142. This finding will mean that more than a quarter of all online transactions will be completed by mobile devices. RetailMeNot estimates mobile spend in 2015 will account for £8.63 billion of the total figure, with tablet spend equating to £6.32bn3.
Within Europe, UK citizens are the largest m-commerce spenders and it is thought that we Brits will, on average, spend £1m every 35 minutes through our smartphones. Mobile is driving online commerce and now accounts for more than one in every four pounds spent online in the UK. Germany is the second largest m-commerce market in Europe with a predicted spend of £12.4 billion this year, whilst Poland is the fastest growing mobile shopping sector on the continent with transactions expected to increase by a whopping 108.8%4.
Mobile is convenient. Wherever we are, at any time of day we can shop. And to make life even easier for customers and to boost sales merchants must ensure their mobile site work seamlessly. It must be easy to navigate through, have a search box that actually finds what you are looking for, and also have a simple and quick checkout process. Tools like BAM Checkout make it easier than ever to complete a mobile transaction by eliminating an average of 75 keystrokes and nearly 2 minutes of transaction time. For the purchase of certain restricted goods where you need to prove who you say you are and your age, it’s now easier than ever to authenticate yourself by using Jumio’s Netverify – which turns your customer’s mobile into an ID scanning terminal, making it fast and easy to capture and verify their ID. By authentication a person’s identity in real time Netverify also helps retailers by reducing potential fraud and chargebacks in purchase transactions.
We want your customers to enjoy their mobile shopping experience and to keep spending money on your site – give them a convenient, enjoyable experience!
Author: David Pope, EMEA Marketing Director, Jumio