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BizReport : Research : March 31, 2008
British are Europe's largest online spenders
New research from Mintel shows that the United Kingdom is leading the way in online shopping.
Figures recently released by Mintel show that online sales in the U.K. reached $25.4 billion last year, around $5 billion ahead of nearest rival Germany. Next came France with $11.1 billion, followed by Italy ($1.7 billion) and Spain ($1.6 billion).
The U.K. also boasts the highest rate of growth in online sales. According to the research, the U.K. online retail market grew by 75% between 2005 and 2007. Further growth of 199% is predicted by 2012.
"The UK has by far and away the most developed online market in Europe,” said Richard Perks, director of retail research at Mintel. "The main reason for this is the sophisticated online offering of the U.K.'s food retailers and the fact that so many of us now more than happy to turn to the internet to do our weekly shop.”
All the major supermarkets operating in the U.K. now offer online shopping, with Tesco being the largest of them all.
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Comments
What was not mentioned in the article is, what exactly are the brits buying online? What is the largest market segment online in the UK?
Posted by: Jawed Iqbal on April 27, 2008 17:11