Concerns over crumbling economies, the collapse of the euro, and enforced austerity measures can’t have escaped your attention if you live in Europe. It’s easy to believe that consumers aren’t spending, that business growth is almost impossible and as retail giants like Tesco post gloomy results, hard times are ahead.
But the news is considerably more positive for eBusiness professionals.
The European Commission has high hopes for online growth. Its “Single Digital Market” strategy aims to double online sales by 2015. While its initiative may have some positive impact, it’s simply too short a timescale for such a radical shift.
That said, online retail in Europe is on a firm growth trajectory. Online retail sales will continue to outperform overall retail sales figures in terms of percentage growth for many years to come in Europe. In times of austerity, more and more shoppers are turning to the web to find deals and offers and to save money. As the web becomes an increasingly mainstream part of the lives of many Europeans, eBusiness professionals must adapt their strategies to accommodate consumers who are finding information about products and services and increasingly transacting across multiple touchpoints.
Every year at Forrester we take a look ahead at the driving forces behind online retail and make some predictions about how we think things will evolve and we try and identify the key trends to watch or even act upon. This year we’ve done things a little differently.
Broadly we find similar themes – multichannel, mobile and changing consumer behavior in light of the continually depressing economic condition. But there are some notable differences in Europe. I’ve said this before, but I will continue repeating it – the national, cultural, language and regulatory differences that persist across Europe make European eBusiness a complex beast. 2012 will bring us more in the way of EU strategy papers and directives as the European Commission begins to formulate what their “Single Digital Market” looks like in reality. While we are unlikely to see many changes immediately, the EC’s vision for the future will begin to crystallize. Add to that changes to the e-privacy and distance selling directives that must be acted upon, European eBusiness executives are going to have a busy time in 2012 just keeping abreast of legislation.