4G could boost UK retail by £1.8bn
Super-fast network 4G could boost the UK retail sector by £1.8 billion, new research released today reveals.
Representing a 113 per cent year-on-year rise in mobile shopping, the introduction of 4G will compliment changing consumer behaviour, according to online marketplace eBay, which commissioned analyst firm Conlumino to conduct the survey.
Using your mobile to shop is increasingly popular with 55 per cent of over 2,000 respondents saying they use their smartphone more now to shop online than the same time last year, though only one in 10 use their phone to complete the customer journey and make a purchase.
“Consumers today want convenience and speed,” said Olivier Ropars, Senior Director of m-Commerce at eBay Europe.
“The arrival of universal 4G will bring with it a more immersive, instant and intimate shopping experience than ever before – putting the most exciting features of mobile retail as we know it into high definition.
“It won’t just turbo-charge the way we shop. It will truly give us the ability to shop anytime, anywhere.
“That means an extra £1.8 billion of consumer spending up for grabs.
“Retailers must act now and think about the virtual shop window, to turn this huge opportunity into an exciting reality.”
eBay’s global forecast for mobile sales this year is $20 billion (£13 billion) while currently, an item is bought every second in the UK via a mobile device and experts are warning of the importance of being 4G-ready.
“Retailers today must take every chance to engage consumers, inspiring them and giving them every possible opportunity to buy and interact with their brands”, said Neil Saunders, Managing Director of Conlumino.
“An omnichannel approach is key to making this happen and with universal 4G on the horizon, retailers can’t afford to stand still.”