Global Economics

Europe Web Shopping to Hit $128 Billion


Europeans are spending ever more money online with research out today suggesting the total spent online during 2006 is likely to hit ??100bn.

That works out at an impressive average of ??1,000 per person for a staggering 100 million internet shoppers across Europe, and it is UK shoppers who are leading the charge.

The average UK online shopper will spend ??1,744 this year with their favourite websites.

According to Forrester Research we're spending more on travel websites than any other ecommerce sites. Currently a third of all online spending goes on booking trips, according to Jaap Favier, research director consumer markets at Forrester.

Favier predicts the travel boom will continue and grow to around ??77bn by 2011 - an increase of 133 per cent over the coming five years.

Other rapidly growing areas are also in leisure with online off-licences and wine clubs booming and expected to enjoy 283 per cent growth over the coming five years, according to Forrester's figures.

Overall ecommerce sales will rise to ??263bn by 2011 - a phenomenal sum which will be spent by 174 million shoppers.

Links:

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Peter Cochrane's Blog: SMEs rule the world

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