About one in four UK citizens are expected to shop online by 2025, while the number of connected devices in the country will reach 200 million units, according to a new report from Frost & Sullivan.
According to the report, ‘New Mega Trends in the UK’, the country is on track to become a digital economy with new business models and digital innovation hubs.
One of the major industries which is expected to benefit from the growth of digital devices will be retail, which is shifting from brick and mortar supermarkets to virtual stores and online hypermarkets – merging both bricks and clicks, the report added.
The majority of British retailers are expected to shift from single/multiple channel to an integrated cross-channel model, while the country is expected to have the largest online retail penetration in the world, per capita.
About 26% of all retail sales in the UK are anticipated to be through online by 2025, with over 80% of entertainment products to be sold online.
The report also projects that about five million broadband homes in the UK are expected to deploy a smart home system by 2017, generating £1bn in digital revenues.
About 43 million Smart Meters are anticipated to be deployed in 30 million UK homes by 2019, generating £14bn in Britain by 2020.
