SUMMARY: According to a global research and advisory firm, UK online retail sales are outstripping those seen in the US by percentage of all retail sales, at the same time UK is making up the lion’s share of the total European online sales being generated.
According to Analyst Forrester, European online retail sales will arrive at a mark of $318 billion (€233.9 billion) by 2018, up from $182 billion (€134.9 billion) in 2013. This compares to a 12 percent compound annual growth rate (CAGR) over the next five years.
While clothing remains on being the biggest online sales category in Europe, online groceries will be the fastest growing, surpassing purchase consumer electronics to turn into the second largest category by 2018, according to the report.
Of the 17 nations included in the forecast, the UK, France and Germany will keep on having the most elevated extent of aggregate retail sales originating from online shopping. The predicted online sales growth across Europe, said Forrester, is determined by a mix of the expanding number of consumers that purchase online, and retailers empowering enhanced e-commerce experiences.
Online Groceries will be the fastest growing category by 2018.
UK online retail sales will reach a figure of $96.6 billion (€71 billion) by 2018, up from $62.6 billion (€46 billion) in 2013 and €51 billion in 2014, and representing to 15 percent of total retail sales, (developing by a 9.1 percent CAGR from 2013 to 2018). By 2018, both France and Germany will see 10 percent of their total retail sales being made up from online sales.
By comparison, in a report published a month ago, Forrester forecast that total US online retail sales would arrive at $414 billion by 2018 - just 11 percent of all retail deals.
“Western European online retail sales growth will continue to outperform overall retail sales through to 2018, and will increasingly come from sales completed over mobile devices like smartphones and tablets," said Forrester analyst Michelle Beeson.
Forrester said the rate of European internet consumers who purchase online will increase from 65 percent in 2013 to 75 percent in 2018.
Southern European markets, for example, Italy and Spain, will see "strong growth" in online retail sales through to 2018, said the researcher, prodded by the development in the amount of online buyers and the rise of "super-shoppers" in these market-consumers who research and purchase across multiple devices and digital touchpoints on a regular basis.