Online shoppers will account for 40.1 per cent of transactions, 27.9 per cent of it will be from mobile devices
British shoppers are predicted to spend £27 billion using mobile devices in 2017, an increase of 26 per cent from £21.51 billion in 2016.
The UK will spend more with mobile devices than any other European market, Germany are predicted to rank second at £24.54 billion and France third at £11.54 billion.
By the end of 2017 Britain is expected to be near split in online and physical transactions. Online purchases are forecasted to be at 40.1 per cent, 27.9 per cent of that figure will be made with a mobile device. The drive from mobile devices is due to development of NFC mobile payment systems such as Apple Pay and Android Pay.
Research from vouchercodes.co.uk and YouGov last year found Brits spend 8.6 per cent of their disposable income using mobile payments.
The value of mobile payments is rising, with average payments increasing by 9.2 per cent since 2015, compared to an increase of just 2.4 per cent across Europe. The average value of UK mobile transactions was £51 in 2016, a figure set to rise to £55 over the course of the year. In Europe, average transaction value was just £44 in 2016, set to rise to £45 in 2017.
Total online spending in the UK is set to hit £67.38 billion in 2017 and then £73.58 billion by 2018 – a huge shift from the 2014 figure of just £46.19 billion. Second place Germany is forecasted to spend £63.09 billion online, but will catch up rapidly in 2018 – spending £73.13 billion.
E-shoppers in the UK are set to spend £1,428.39 per head in 2017, 38% higher than the European average of £1003.54. The research also found that the UK has embraced e-shopping, with 72% of Brits (over 45 million) shopping online on a regular basis
UK retailers to evolve mobile offering
Vouchercodes.co.uk managing director Claire Davenport said: “These latest figures confirm the increasing significance of mobile to both retailers and consumers, which is now the main driver for the continued growth of the online retail sector.
“This year, 40 pence of every pound spent online will come from a mobile transaction, a reality that retailers simply cannot ignore.
“To remain competitive and respond to customer demands, it is more vital than ever for UK retailers to evolve their mobile offering. This can be done by providing an optimised and mobile-friendly online shopping experience, developing truly seamless customer experiences across all channels, and harnessing the power of targeted mobile marketing to drive footfall”.