Online Retail Goes From Strength To Strength Across Europe

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

In our latest Online Retail Forecast For Western Europe, we examine the drivers and motivators for online shopping across the major European retail markets and forecast the growth from 2011 through to 2016. As a counterpoint, we also look at US market growth in the Online Retail Forecast For North America.

Comments

Wireless shopping is on the upward growth trend

Agree completely, Martin. Online/mobile shopping is on the upward growth trend. Your point on transaction across multiple touch points highlights another area of pressing importance – that of getting the back end systems to handle the processing of multiple touch points. Technology has a huge role to play here – from enabling the various touch points, integrating them with the back end systems and finally ensuring real-time visibility/updates and avoid a siloed approach. Retailers need to adjust to this change in shopping trends soon or risk irate customers. If you are interested, do read this thought paper on Shoppers' Happiness Index at http://www.wipro.com/Documents/tw_1110020_WiproArticle_Retail_v2_2.pdf

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