UK Online Retail Sales are Outstripping those seen in the U.S.

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.

Image: The Village, Westfield, London

Image: The Village, Westfield, London

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.

Carrie Ann
Carrie Ann is Editor-in-Chief at Industry Leaders Magazine, based in Las Vegas. Carrie covers technology, trends, marketing, brands, productivity, and leadership. When she isn’t writing she prefers reading. She loves reading books and articles on business, economics, corporate law, luxury products, artificial intelligence, and latest technology. She’s keen on political discussions and shares an undying passion for gadgets. Follow Carrie Ann on Twitter, Facebook

Recent Posts

Strong iPhone 12 sales could boost Apple’s Q3 2021 earnings

Strong iPhone 12 sales could boost Apple’s Q3 2021 earnings

Will Apple manage to post solid earnings in Q3 2021? Here’s what Wall Street’s top analysts have to say ahead of Apple’s Q3 2021 earnings report today.
5 hours ago
Tesla earnings top $1 billion for the first time

Tesla earnings top $1 billion for the first time

Tesla earnings not only blew past analyst expectations but also marked the first time the automaker’s quarterly profit joined the three-comma club.
7 hours ago
Elon Musk tweet pushes Dogecoin prices up again

Elon Musk tweet pushes Dogecoin prices up again

Dogecoin was launched as a joke in 2013. The cryptocurrency is up a staggering 6,000% compared to last year’s prices due to wild speculations.
7 hours ago
Amazon to hire a crypto lead, may soon accept payments in cryptocurrency

Amazon to hire a crypto lead, may soon accept payments in cryptocurrency

The product lead will develop the full marketing strategy from customer experience to technical development to launching it.
1 day ago
Billionaire CEO Elon Musk Shares the Brutal Truth about Life as an Entrepreneur

Billionaire CEO Elon Musk Shares the Brutal Truth about Life as an Entrepreneur

“I would say I’ve had some pretty tough life experiences and Tesla’s probably responsible for two-thirds of all personal and professional pain combined, to give you a sense o
3 days ago
AT&T, Airbnb & UPS among firms to face Akamai’s global outage

AT&T, Airbnb & UPS among firms to face Akamai’s global outage

Global outage causes Akamai Technologies to re-think cyber securities.
4 days ago