At the close of 2018, the United Kingdom was named the third largest mcommerce market in the world, worth 55.9 billion euros. This sales figure pushes the UK third world wide, just behind China (652.6 billion euros) and the U.S. (183.2 billion euros).
This data comes from new information shared by Worldpay, which examined online shopping in 36 countries across the globe. According to their research, mcommerce currently accounts for 38 percent of the 1.13 euros in global ecommerce sales. Good news for businesses, Worldpay says global mcommerce is set to grow 19 percent over the next five years.
Even better news for UK merchants, mcommerce grows 16 percent annually – this makes the UK the fastest growing channel. It is projected to be worth slightly over 100 billion euros in 2020.
Of consumer options, the study shows that e-wallets are a popular choice for UK customers that opt to …