UK retailers to register online sales of USD 75 billion in 2014 – report

Wednesday 19 March 2014 13:20 CET | News

UK retailers are expected to reach online sales up to USD 75 billion (GBP 45 billion) in 2014, up by 16% on online consumer spend compared to the previous year, according to a report conducted by RetailMeNot and the Centre for Retail Research.

The study indicates that in 2014 online sales will grow by 16% in the UK, with the average shopper expected to spend more than USD 1.662 (GBP 1000) online.

Results point out that the UK, France and Germany will be accounting for 81% of the online sales in the eight European markets expected in 2014. The UK is expected to account for more than a third (34%) of all online retail sales in the eight European markets surveyed in 2014.

The survey reveals that currently, 46% of European consumers and 55% of American consumers shop online. Out of Europeans, 71% of Swedes and 67% of Brits use the internet to shop. Research also shows that in the UK, the internet accounted for 12.1% of all retail sales in 2013 and that it is expected to grow to 13.5% in 2014. The same source unveils that online shopping is less popular in Southern Europe, although it is growing. Therefore, one in five people shop online in Italy (20%), while one in three (32%) use the internet to shop in Spain. Around half of people in France (52%), Poland (51%), Netherlands (49%) and Germany (45%) shop online.

On average, European shoppers will make 15.2 online purchases in 2014 with a typical basket size of USD 81.45 (GBP 49), while US shoppers will make 15.6 online purchases, with an average spend of USD 118 (GBP 71). In the UK, shoppers are expected to make 18 purchases online in 2014, spending an average of USD 98 (GBP 59) each time.

The study is based on a sample of 100 retailers and 9,000 consumers.

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Keywords: UK, retailers, online, sales, report, ecommerce
Categories: Payments & Commerce
Countries: World
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