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Just as a thriving high street is the heart of a prosperous town, the UK’s ecommerce industry plays much the same role for the digital economy. Last month, retail trade body IMRG revealed that more than £300bn has been spent online since it began tracking online sales 11 years ago. While just £800m was spent in 2000, it’s expected the industry will be worth £70bn by the end of this year.
It’s safe to say, then, that consumers no longer have fears about buying online. In fact, as our Ecommerce Special shows, they’re looking at new ways to do so, largely via mobile. Our feature on multi-channel retailing reveals that 42% of consumers in London use smartphones when shopping to compare prices, often while in-store, and read reviews. Also, research from the Direct Marketing Association shows that 82% of consumers want to buy products on mobile.
However, it seems that most retailers are far behind. The same research found only 42% of retailers have a mobile strategy, and 14% say they have no plans to enter the space.
But with statistics like those from Marks & Spencer, which show that more than 5.5m people have used its mobile site in the past year (with one person spending over £5,000 on a kitchen), retailers could be cutting themselves off from a potentially prosperous revenue stream by ignoring m-commerce.
The same goes for social commerce. Just four months ago new media age was writing about the first stores from brands including French Connection and ASOS opening on Facebook (nma 10 February 2011). But the industry was again divided over whether selling on social networks really works. More are trying their hand, though. The latest is O2 with mobile top-ups. It seems some don’t need convincing.
What’s clear is that ecommerce has its own subdivisions that are no longer new or alien. Those that aren’t at least trying look set to be playing catch-up for some time.
Just as a thriving high street is the heart of a prosperous town, the UK’s ecommerce industry plays much the same role for the digital economy. Last month, retail trade body IMRG revealed that more than £300bn has been spent online since it began tracking online sales 11 years ago. While just £800m was spent in 2000, it’s expected the industry will be worth £70bn by the end of this year.
It’s safe to say, then, that consumers no longer have fears about buying online. In fact, as our Ecommerce Special shows, they’re looking at new ways to do so, largely via mobile. Our feature on multi-channel retailing reveals that 42% of consumers in London use smartphones when shopping to compare prices, often while in-store, and read reviews. Also, research from the Direct Marketing Association shows that 82% of consumers want to buy products on mobile.
Just as a thriving high street is the heart of a prosperous town, the UK’s ecommerce industry plays much the same role for the digital economy. Last month, retail trade body IMRG revealed that more than £300bn has been spent online since it began tracking online sales 11 years ago. While just £800m was spent in 2000, it’s expected the industry will be worth £70bn by the end of this year.
It’s safe to say, then, that consumers no longer have fears about buying online. In fact, as our Ecommerce Special shows, they’re looking at new ways to do so, largely via mobile. Our feature on multi-channel retailing reveals that 42% of consumers in London use smartphones when shopping to compare prices, often while in-store, and read reviews. Also, research from the Direct Marketing Association shows that 82% of consumers want to buy products on mobile.
Published by: NMA
Published 3rd June, 2011
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