Brits to spend 14.95 billion pounds via mobile devices in 2015

British consumers are set to spend 14.95 billion pounds via mobile devices this year, according to new research by RetailMeNot.

The research reveals that m-commerce transactions will increase by 77.8 percent in 2015, up from 8.41 billion pounds in 2014, meaning that more than a quarter of all online transactions will be completed through mobile devices.

Broken down, the 14.95 billion pound spend is equivalent to 1 million pound spent every 35 minutes throughout the year, or 474 pounds a second. In fact, the UK is such a dominant force in the European m-commerce market that it will account for 39.4 percent of all continental m-commerce sales.

Smartphones will be leading the charge with RetailMeNot, parent company to Vouchercodes.co.uk, predicting that spend will reach 8.63 billion pounds via this platform, while transactions on tablets will total 6.32 billion pounds.

Giulio Montemagno, SVP of international at RetailMeNot, said: “Mobile is now the driving force behind ecommerce growth, accounting for more than one in four pounds spent online in the UK this year. However the true impact of mobile on retail is much greater than this.

“Our research suggests that mobile is becoming a ‘shopping companion’ for many Brits. Almost three-quarters of mobile users regularly visit retailers' websites to browse or make purchases, with some retailers seeing as many as one in two visits to their websites come through mobile. Faced with some high rates of growth and a huge opportunity to drive sales, ignoring mobile is simply not an option for retailers in 2015.”

Germany is the second biggest m-commerce market in Europe, with a predicted spend of 12.4 billion pounds this year, while Poland is the fastest growing 'mobile-shopping' sector with their transactions set to increase by 108.8 percent.