Mobile retail spend in the UK is set to double to £33.2 billion over the next five years, with clothing and footwear representing the “driving force behind the channel”.
According to new research from Globaldata, mobiles will account for over 40 per cent of all online spending by 2024, with revenues climbing £17.1 billion over the same period.
Furthermore more than 80 per cent of online shoppers under 35 state they have purchased items using their smartphone, leading many in the industry to prioritise the medium and enhance their mobile offering by integrating features like visual search and wish lists.
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“Retailer investment in mobile-optimised sites and apps, alongside advancements in technology and the surge in social commerce will all contribute to significant mobile growth over the next few years,” Globaldata’s senior retail analyst Sofie Willmott said.
“Clothing & footwear will be a driving force behind the channel, with mobile accounting for 19.1% of all clothing & footwear expenditure by 2023, up from 9.2% in 2019.”
“While achieving growth in the UK retail market remains challenging as shoppers hold back on non-essential buys, retailers must respond to changing shopping behaviour and focus their efforts on the mobile channel to capitalise on the shift in spend.”
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