Mobile commerce sales in the UK will account for more than half of all retail ecommerce sales by 2020 according to a report from Visa. This will grow 15.3% to total £58.89 billion ($78.51 billion).
Smartphone commerce already accounts for the majority share of mobile commerce, and that share is expected to increase from 58.9% in 2019 to 71.2% by 2023
The report (The Digital Transformation of SMEs) clearly identifies that commerce is undergoing some profound changes with significant implications for the high street. Fuelled by smart technologies, mobile devices, and 24/7 connectivity, the way consumers browse, shop, and pay has been moving towards digital. UK consumers will spend £106.46 billion ($141.93 billion) online in 2019 (+10.9% vs 2018). This will make up 22.3% of all retail spend, a proportion that will reach 27.9% in 2023. In 2019 mobile commerce will grow 16.7%, passing £50 billion ($66.66 billion) for the first time.