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April 11, 2014

Mobiles to account for 1 in 5 pounds spent online in Britain

Brits are expected to spend nearly £8bn on tablets and smartphones this year.

By CBR Staff Writer

Transactions via mobile devices are expected to account for 18% of the amount spent online by UK shoppers in 2014, a new study conducted by the Centre for Retail Research finds.

The biggest mobile shoppers in Europe, Britons are the most likely to browse online stores on their smartphones, with 28% of Brits buying items on their mobiles, the new research commissioned by RetailMeNot said.

By the end of the year Brits are expected to spend nearly £8bn using their tablets and smartphones, with overall European spending on mobile devices reaching £19.8bn.

RetailMeNot International senior vice president Giulio Montemagno said that 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."

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Last year, Brits accounted for £4.9bn online via mobile devices, more than 10% of Europe’s overall online spending of £38.8bn.

The report also forecasts that mobile shopping in Europe will rise by 85% over the next year.

"The study shows that mobile is now the key driver behind the growth of e-commerce," Montemagno added.

"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."

"To take advantage of this shift, retailers must adapt by optimising their websites to mobile devices and ensuring payments are secure."

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