Shoppers are predicted to double the amount they spend on purchases made on mobile devices this year but many SME's risk not capitalising on the growth
Most UK small businesses are failing to reap the rewards of a huge boom in mobile shopping because their websites are not optimised for use on smartphones and tablets, new research has shown.
Shoppers are predicted to double the amount they spent on purchases made on mobile devices to £27bn this year. That figure is predicted to hit £43bn by 2020 but only 18 per cent of the UK’s small businesses have mobile-friendly websites, a survey by PayPal has found.
The research reveals a growing gap between what shoppers want and expect from mobile shopping and what small businesses are actually offering. As mobile becomes the key growth area for online spending, small businesses risk being left behind larger rivals unless they make changes, PayPal said.
Some businesses are unaware of the importance of mobile sales, with 33 per cent of respondents saying they don’t need a mobile website because they “do well enough as it is”. However, consumers said the lack of a mobile-friendly website was their number one frustration when buying something on their smartphone.
UK businesses are likely to become increasingly reliant on mobile sales, with almost one third of Brits saying they expect to use their smartphones to shop more often in the next 12 months.
Firms particularly risk losing the younger generation of consumers with 44 per cent of 16 to 25-year olds saying they plan to buy more on their mobile. Six in 10 millennials said they look for potential purchases on their mobile device every day.