The UK is expected to spend a mammoth £14.95bn via mobile devices in 2015, according to recent research by RetailMeNot, which operates the world’s largest marketplace for digital offers. This means that retailers need to stay alert and keep on top of their mobile technology in order to cash in on 2015.
“The customer expects everything to be connected technologically” said former Best Buy CEO Bob Willett at a Purple wifi conference last week. He urged retailers to reflect on what they are doing to maximise their products and how to add additional value “without putting the price up”. He also cited that retailers staying the same is not an option, instead they should hone in on what it is their customer actually wants and find the quickest way to get it to them.
In support of Willett’s statement, RetailMeNot found:
•Brits will spend a total of £1m on mobile devices every 35 minutes throughout 2015
•The UK is forecast to account for 39.4% of all m-commerce sales in Europe (£37.9bn)
•The UK is the largest m-commerce market in Europe, with sales of £14.95bn expected in 2015, followed by Germany (£12.4bn) and France (£5.9bn)
•M-commerce sales are forecast to grow by 88.8% across Europe this year, while UK growth is set to rise by 77.8%
•The fastest growing markets for m-commerce across Europe are Poland (108.8%), Germany (103.1%), and Spain (97.4%). The US m-commerce market is set to grow by 63.1% in 2015
•The results highlight how important it is for retailers to avoid shortcuts when it comes to mobile technology.
Willett states that “the consumer has already discovered the connected world, particularly the social network - it needs to do a lot more with it”. In order to do this Willett stressed the importance of following the “three Rs’- revise what to do, reimagine what to do, reinvent what to do”. Retailers in 2015 must stay ahead of the game and figure out new ways to enhance their social media platforms, particularly for mobile devices.
Mobile social media has a large part to play when it comes to advertising brands. Facebook recently reported that 63% of people use two or more devices in the course of a day, with 21% using three or more. It’s becoming increasingly important for retailers capitalise on every from of social media possible.
Mobile apps are a necessity this year and are set to have an impact on a number of large retailers. Footwear retailer schuh’s Customer Insight Manager, Chrid Johnston confirmed last week that the company’s mobile sales transactions have already overtaken desktop sales, compared to their transactional kiosks instore that were barely touched.
The growth of e-commerce per mobile device is expected to rise a massive 79%, more than through tablets and PCs. John Chambers, CEO at Cisco, an IT specialist, advises retailers to make the most of all online platforms:
“In 1995, less than 1% of the world’s population connected on the internet. Today, more than 40% connect online”. He goes on to add, “In the next 30 years and beyond, we’ll see everything become connected—people, process, data, and things. This will expand our understanding of the world and the experiences we have, and we’ll generate new ideas and discover new solutions”.