Image by iCrossing via Flickr
WHILE the offline High Street
retail sector is in decline, the virtual
By 2021, an estimated £19.3 bn will be spent via mobile, according to a report by Barclays Corporate research.
The news comes as today inflation has rocketed to a whopping 5.2% - as the price of heating the home, fuelling the car, and feeding the family soars out of line with people’s incomes.
Inflation though is predicted to decrease next year, economists and the Bank of England predict.
Said Richard Lowe, head of retail & wholesale at Barclays Corporate: “Those retailers which are prepared to invest will be at a significant advantage to the competition.”
Yesterday, mainstream media reported that more and more hackers are targeting smart phones to gain access to people’s information.
The mobile market is rocketing, with new apps everyday being created by thieves who can target victims on the move via their phones.
Today, £300 million is spent on food and groceries via mobile devices, but by 2021 an estimated £5bn will be spent on food and groceries on a phone.
Over the next five years, m-commerce growth is expected to flourish to 55%. That is compared to just 8% of those who do business online, the research suggests.
Food and groceries tops a list of the most ordered products and services that are being bought by consumers on phones.
Second is electrical.
By the year 2021, the mobile market will have a 4.9% share of the total retail sales globally.