Consumer mobile spending to top $30B a year by 2021 in Britain: Barclays
According to the study, food and groceries remain the most popular on-the-go mobile purchases. Many marketers are realizing that there is a potential with mobile and companies are increasingly looking at way s to target consumers via their handsets.
Barclays found that consumers are using their mobile device to create shopping lists, make payments and arrange delivery times.
Mobile grocery sales account for nearly $463 million for supermarkets and grocery stores this year.
By 2021 this figure is expected to top $8 billion.
Additionally, Barclays found that electronics are the second most popular mobile purchase with $463 million to be purchased via a smartphone or tablet this year.
By 2021 sales are predicted to reach $3.4 billion.
The study also finds that personal care products, which include hair care, beauty, dental and baby products will see the strongest growth with mobile commerce sales – rising from $100 million in 2011 to $5 billion in ten years time, per Barclays.
In addition, the company finds that in the next five years, mobile commerce will grow by 5 percent – the fastest of any retail channel.
Online sales are expected to grow by 8 percent and in-store sales by 1.6 percent.
Mail order is expected to shrink by 1.2 percent.
Barclays claims that the growth in mobile sales will be driven in part by the increase of smartphones, 4G and NFC.