Deloitte Access Economics has released a report that details the impacts of mobile technology on retail.
The report has found that smartphones are an increasing channel for generating revenue, with the percentage of Australians who have made purchases through their mobile jumping from 9.5 per cent in 2012 to 19 per cent in 2013.
In addition, mobile purchases currently make up for around 27 per cent of all online shopping purchases, contributing to $4 billion to the Australian economy per year.
Deloitte Access Economics partner and report co-author believes that the growth of mobile technology could help retailers stay ahead of the game.
“Mobile technologies continue to change the way the economy, society and business operate and intertwine.
“And the pace of this change is rapid.
“The retail trade industry epitomises this pace of change, and mobile technologies’ disruptive impact, from shifting consumer demands to improved logistics and increased competition.”
Deloitte Access Economics partner and the report's other co-author John O'Mahony said that it can also encourage more skills within the industry.
“Mobile devices and apps are a revenue channel, source of productivity growth and a real customer engagement opportunity for retailers.
“They are also shaping retailers’ internal operations. With a relatively young employee base, there will be increasing demands for employees to use their own devices for work. There will also be a need to up-skill the workforce to meet the increasing digital literacy of customers.”