The mCommerce boom and its impact on UK businesses

The latest research from online retail association IMRG Capgemini has revealed that more than a third of all online retail transactions that took place in the UK last quarter were conducted over mobile devices.

The report – Quarterly Benchmarking – looks at data between February and April of this year, analysing trends in sales across all platforms. In this three month period transactions completed on mobile devices rose to 34%, an increase from 32% in the previous quarter and a 20% growth on the same period in 2013.
3,400% increase in mobile transactions since 2010

The rapid rise of mCommerce has been widely chronicled over the last four years, and market penetration has grown by an astonishing 3,400%. It’s clear to see that the UK consumer base has quickly taken to the prospect of mobile devices being a secure and viable platform on which to shop.

But what impact will this have on businesses?

The first thing to note is that an increased demand for mobile commerce suggests that UK consumers are becoming increasingly more comfortable with conducting transactions on-the-go, outside of the typical office or home environment.

This will provide encouragement to businesses that will see these sets of data as confirmation of their success in promoting mobile sales. Additionally, with more people shopping on-the-go, this signals wider access to potential revenue.

Meeting expectations

Chris Webster, VP for consumer retail technology at Capgemini, was keen to stress the importance of mobile in a consumer’s shopping journey: “Retailers have taken huge strides over the last few years, rapidly evolving their mCommerce platforms to match the expectations of their customers, enabled by the available technology,” he said.

Consumers clearly put their trust in mobile technologies and, as the saying goes, the customer is king.
Firms should look to enhance their online offerings by making their own businesses models more mobile-centric. Cloud accounting software – accessible on mobile devices anytime, anywhere – provides businesses with the option to track, manage and transfer financial data at the touch of a button no matter where they are in the world.

Liquid Accounts is the leading online accountancy software provider for UK-based SMEs, Accountancy and Bookkeeping practices. For more information and a free trial of Liquid Accounts visit www.liquidaccounts.com