According to the Economist Intelligence Unit, the UK has “the highest proportion of online spending in the world”, topping an estimated 13,2% of all retail sales in 2012. In 2022, a lot of this shopping will be made from a mobile device. M-commerce is expected to become mainstream in ten years and could account for one third or more of all sales in the UK.
Social media sales, or s-commerce, will also become a fixture of the retail space in 2022. The study points to the success of Pinterest and the likelihood that similar services will pop-up in the coming years. While the highstreet will no longer be the primary place for transactions, it will continue to be a showroom for retailers, together with online channels, where most of the purchases will be made.
By 2022, China is predicted to account for a quarter of the global retail sales, with the growth of rich mega-cities. Africa is deemed as the “final frontier” for retail, as opportunities in BRIC countries diminish.