8 Jul 2010

The Crisis Is Over: Double-Digit Growth for Online Shopping in Western Europe and in the US

In the last couple of years you might have experienced disappointing or even declining sales in your online shop. But keep the faith the crisis might be over. Forrester Research expects an increase in online sales both in Western Europe and in the US over the next five years - and that by double-digit. Online sales in the largest European Union nations in Western Europe will grow at a 11 per cent annual growth rate over the next five years reaching €114 billion by 2014. In the US online sales will grow at a 10 per cent annual growth rate over the same period to reach close to $249 billion by 2014.

Western European online sales
In Western Europe an increased online tenure, improved access and greater promotion by retailers will increase the number of online shoppers in Europe from 141 million in 2009 to 190 million by 2014. The average spend per online shopper will rise from €483 in 2009 to €601 in 2014. Books, event tickets and clothing are the top three categories put in the virtual shopping basket in Western Europe. Among the three largest EU markets, online sales will grow by 10 per cent over the next five years in the UK; 9 percent in Germany; and 13 percent in France.

Online shopping in Europe will grow but there is a clear division between the countries of Northern and Southern Europe. In UK half of the people shop regularly online, however, only 10 per cent of online Spaniards and 11 per cent of online Italians shop online. However, with annual growth rates approaching 20 per cent in markets like Spain, emerging European e-commerce markets are poised for a great period of growth.

US online sales
In the US, online shopping will account for 8 per cent of total retail sales by 2014. Three categories dominate online sale, that is apparel, footwear and accessories; consumer electronics; and consumer hardware, software and peripherals. Together, these categories represent more than 40 per cent of total online sales in the US. By 2014, 53 per cent of total retail sales in the US will be influenced by e-commerce as consumers use the Internet to research products before purchasing.

All in all get ready. Get your CRM, CMS, analytics and newsletter modul ready. The crisis might be over. 

See more about the forecast on Forrester Research