Matt Bullock
13 December 2011
A recent research report from Euromonitor International found the online retail market in Europe continues to grow despite the poor economy, as new online shoppers are browsing ecommerce sites for deals and discounts.
The report showed in 2010, European online retail sales grew 18 percent, and are expected to grow another 13 percent in 2011, reaching €92 billion. Over the next five years, European ecommerce growth is expected to increase 10 percent annually.
In addition, northern European countries, including the U.K., Sweden and the Netherlands, are expected to see 80 percent or more of their online population make purchases on ecommerce sites.
The popularity of online retail is not reserved for pure online retailers. Computing UK reported bricks-and-mortar stores can increase their in-store foot traffic with ecommerce sites.
"A lot of high street retailers are concerned that online would eat their lunch, but there's a continued demand for both," Paul Broome, a retail expert, told the source. "Many retail consumers order online and then collect in-store."
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