The future of M-Commerce in the UK

Current trends indicate that there are high growth prospects for M-commerce in sectors such as electronics, grocery retail, and personal care. Also notable is the growing popularity for online shopping among customers of luxury products. Some of the media expected to dominate M-commerce are tabloid and mobile phones. In fact, it is estimated that the level of consumer spending through M-commerce in the UK should reach an equivalent of $30 billion by the year 2020. This is a sharp rise from the current estimates which place the customer spending through M-commerce in the UK at $ 2 billion.

So, why are there positive predictions on the future of M-commerce in the UK? The answer is pretty simple: Convenience! The idea of accessing what one needs at the click of button is simply intriguing. With M-commerce, the time consuming shopping routines are quickly done away with and the shopper can make their transactions from the comfort of their homes or offices. Market researchers observe that the enabling environment for M-commerce in the UK has been at its best in decades. The infrastructure to allow for cost effective online and electronic payments is well developed and ready for exploitation by the rising number of customers exhibiting a phenomenal unwillingness to spend their already limited time on the streets shopping for products.
Statistics indicate that the growth estimates in the M-commerce sector are much higher than that of the physical stores with the growth rates for both sectors standing at 55% and 1.6% respectively over the next two years. In the grocery retail sector, proceeds from M-commerce in the UK stand at an estimate of $450. It is estimated that such proceeds will hit the $8 billion mark by the year 2020. As strategic management consultants would hold, every business intending to withstand market rivalry in the future must be keen to develop its systems to facilitate effective online operations. M-commerce allows organizations to extend their presence in the market beyond the restrictions of physical space. It therefore presents itself as a less costly tool for business expansion. With the increased access to the internet in the UK and the reduced charges on electronic and online transactions, one can only predict rapid growth in the M-commerce sector in the UK with more and more of the sectors embracing this medium of trade.
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