October 31st, 2012 | Add a Comment
New report releases results of predictions regarding online shopping by 2022.
A new retail report has been released by the Economist Intelligence Unit which showed the way that the retail sector will be changing throughout the next decade due to e- and mcommerce as well as social media sales (s-commerce).
It showed that all online purchases will make up more than one third of the sales in the U.K by 2022.
At the moment, the combination of s-, e- and mcommerce make up around 10 percent of sales in the United Kingdom. According to the Economist Intelligence Unit’s chief retail analyst, Jon Copestake, “The opportunities for retail over the next decade and beyond are enormous.” However, he also went on to say “But where the future markets will reside and the way in which we will buy goods will change dramatically. Retailers will need to evolve to adapt to this new landscape.”
Mcommerce is predicted to become a mainstream form of shopping in the next ten years.
The report indicated that impulse purchases will play an important role in the growth of mcommerce because an increasing number of people who will buy their first few items over their mobile devices without having planned them.
It also identified successful websites, such as Pinterest, as an important driver of purchase in the smartphone, tablet, social media, and overall online environment. This will be an important part of sending digital shopping ahead.
Retail analysts have also identified companies that are based on bargain hunting – such as mysupermarket and Groupon – as the type of business that will undergo significant changes and evolutions over the next few years as they merge and expand.
At the same time, even as mcommerce takes off, the researchers did not believe that brick and mortar retail stores would suffer or fade away. Instead, the role that they play is expected to change significantly by the year 2022.
The report also suggested that convenience will be a driving force behind the popularity and success of mcommerce. A growing number of consumers will adopt a multichannel approach as they use their mobile devices to obtain the fastest, easiest and most affordable shopping experience.
- Mcommerce research from September shows a growth in its market share
- Mobile commerce will play an important role in Christmas this year
- Mcommerce expected to bring £11 billion in U.K. sales in 2012
- Social and mobile commerce begin to play a big role in the business world
- Mobile commerce is more active among tablet users than those with smartphones
Written by Julie Campbell
About Julie Campbell: Though her true passion is for writing her own fiction novel and holding fundraisers in support of the fight against cancer (as well as donating her hair to that cause in 2011), Julie has created both a name for herself and a successful business in the writing industry. For more than ten years, she has focused her career on capturing the latest technology news, which now includes a particular interest in QR codes and augmented reality.
Filed under: Featured News, International, Mobile Commerce, Mobile Marketing, Social Media Marketing, Trends · Tags: e-commerce, ecommerce, future of mcommerce, mcommerce, mcommerce forecast, mcommerce predictions, mobile commerce, Mobile Commerce Forecast, mobile commerce shopping statistics, mobile shopping, mobile shopping demographics, mobile shopping trends, s-commerce, scommerce