Online retail sales in Europe are set to rise 18% to more than 200 billion euros ($271 billion) this year, reported Reuters, outpacing growth at traditional shops as well as Internet sales in the US.
The Center for Retail Research, in a study commissioned by online shopping comparison website Kelkoo, said on Monday it expected 6.9% of all European retail spending to be online in 2011, up from 5.9% last year.
“The European online market has been growing faster than its counterpart in the U.S. for the past three years and this trend is set to continue into 2011,” the study said.
Last year, online retail sales climbed 19.4% to 171.9 billion euros in Europe and 11.4% to $173 billion in the United States, it said. The European figures are based on data and projections from 11 countries.
Britain will remain Europe’s largest online retail market this year with sales of 59.4 billion euros, followed by Germany on 45.1 billion and France on 38.7 billion, the study forecast. It tipped Poland to achieve the fastest growth rate of 33%, ahead of France on 24% and Sweden and Norway both on 22%.
Seeking Deals on the Internet
It seems the recent recession increased the allure of online retailing among consumers, who are seeking better deals with the help of their computers, laptops and smartphones.