Shopper Discounts and Rewards: European online retail sales are expected to hit €191 billion in 2017

Shopper Discounts and Rewards — Fri, 12 Apr 2013 14:41:44 +0000

The latest retail news from Shopper Discounts and Rewards looks into recent research about the online sales market in Europe. According to recent research released by analyst house Forrester, European online retail sales are expected to hit €191 billion in 2017. This figure is based on an estimated 11% year-on-year growth from now until 2017. Forrester suggested that this growth is down to the fact that consumers are turning to online retail channels for the advantages of saving time and money, as well as the ability to easily find a wealth of products unavailable offline.

Interestingly, Forrester expects most of this growth to be driven by countries that are currently experiencing less than positive economic growth, particularly Italy and Spain. Italy is expected to experience 16% growth, making it a €8.3 billion market whilst Spain is expected to grow by 18% to become a €9.1 billion market.

In contrast, the UK is expected to see growth at the lower end of the scale at only 10%. Despite this low growth Forrester did emphasis that the UK retail figures are already at a high. It is estimated that the UK drove retail revenues of €40.1 billion in 2012 – a figure that is more than ten times higher than both Spain and Italy.

A spokesperson for Forrester commented:

“Although far from the saturation point, the UK in particular has passed beyond the boom years and local retailers must invest in optimisation and innovation to stay competitive.”

The company also estimated that online retail sales will continue to drive a decline in traditional retail sales for the music and film sector. To this point it is estimated that by 2017 more than half of all money spent on music and DVDs will be online. However, in comparison, only a quarter of all book purchases will be made online – despite the rise of eBook readers such as Amazon’s Kindle reader.

The other interesting point in the Forrester report is that online groceries will be a huge earner for online retail stores. It is estimated that by 2017, shoppers across Europe will spend nearly €10 billion online buying a wealth of food and drink products.

The research also shows that by 2017, online retail will represent 15% of the UK’s economy, up from 13% in 2013. Germany, meanwhile, rises to 10% – up from 7% – and both France and the Netherlands will hit 7% in the next four years.

Martin Gill, Forrester Principal Analyst added:

“As wallet share shifts gradually to the Web, eCommerce will naturally come to be regarded as more and more critical to national economies.”

Sources:

Forrester: Europe’s online retail sales to grow 70% to €191bn by 2017, with Spain seeing most growth

The Next Web: looking at the Forrester Research

EURO-REGION RETAIL SALES (MARCH) AT 0.3% vs prv -0.2%

rsquaredanalytics — Fri, 04 May 2012 09:53:29 +0000

European Retail Sales data for March rose by 0.3 percent vs -0.2 percent decline previously. This came above expectations of forecasts of no change in the data. In the Euro 27 region, retail sales for March rose 0.7 percent vs decline of 0.5 percent in February.

Food, drinks and tobacco data was stable throughout the region. data for Greece was unavailable. The data from Eurostat showed that retail trade rose in ten countries and declined in nine, while it remained stable in Ireland and Sweden.

Increase in sales data for the member countries is as follows:

Bulgaria: 3.9 percent

Poland: 2.6 percent

Austria and the United Kingdom both 1.9 percent,

Decline in sales data came in for Portugal: -2.2 percent, Estonia -2.0percent and Slovenia -1.4 percent.

(Bloomberg/Eurostat)

european-retail-sales « WordPress.com Tag Feed

Shopper Discounts and Rewards: European online retail sales are expected to hit €191 billion in 2017

EURO-REGION RETAIL SALES (MARCH) AT 0.3% vs prv -0.2%