By Claire West

“£60bn a year comes from online retail and this is bound to increase if you factor in smartphone technology. More and more companies are turning to smartphone apps for advertising, marketing, brand promotion and - crucially - sales” says Mark Mason, CEO of the UK’s largest B2B app developer and former marketing consultant to Microsoft and Google.

“The key factor here is that the UK has more smartphones per head of population than any other country in the world. With IPTVs coming in and a whole new raft of Android phones for the Christmas market, it won’t be long before apps are replacing catalogues, websites and shops!”

A survey commissioned by Google has found that the internet is worth 7.2% of the UK economy and is valued at £100bn. The internet’s contribution to GDP is set to grow by about 10% annually, reaching 10% of GDP by 2015. According to the Boston Consulting Group, who undertook the survey, the UK is the world’s leading nation for e-commerce. For every £1 spent online to import goods, £2.80 is exported.

The UK has the world’s highest proliferation of smartphones with more owned in the UK than any other EU country. Trends of growing e-commerce are likely to outstrip predicted growth which doesn’t account for the massive impact on sales that smartphones will have.

Mubaloo is the UKs largest corporate app developer having moved into profit already in its first full year of business, expanding from 2 to 40 staff in offices in Bristol, London and New York. They are opening new offices in Berlin this month and another is planned in Helsinki, Finland, near Nokia’s offices.