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BizReport : E-commerce : August 13, 2007
Online shopping forecast: 323 billion euros by 2011
Don't look for the online shopping trend to slow anytime soon in European countries. The ability to shop quickly, find the needed items without the hassle of crowded shopping centers and the discounts offered by many e-tailing hubs is expected to push online shopping even higher in the next five years.
According to a recent report from eMarketer, e-commerce in Europe will reach 323 billion euros ($407 billion) by 2011. That is an average 25% growth rate each year from 2007 to 2011.
The three biggest online shopping countries are the UK, Germany and France, accounting for about 72% of all online sales in Europe. The UK will see the largest growth. In 2007, shoppers will spend the equivalent of $84 billion, an increase of 39%. The UK may spend the most online, but Germany actually has more online shoppers. More than 27 million Germans shop online. France in comparison has fewer shoppers than Germany (roughly 14 million online shoppers) and spends far less online than UK (the equivalent of $12.5 billion) shoppers do.
Italy, Spain and the Netherlands will growth to be a large force for European e-commerce hubs between 2007 and 2011. However Eastern European countries - Russia, Poland and the Czech Republic - won't impact online shopping hubs until well into the 2010 decade according to eMarketer researchers.
Tags: e-commerce, eMarketer, Europe, online shopping
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