British consumers are predicted to spend 43 per cent more than the average online shopper in Europe this year, according to RetailMeNot.
Online sales will make up 15.2 per cent of all British retail purchases in 2015, and will total £52.25 billion. This means Brits will spend 16.2 per cent more online than they did the previous year, reports warc.com. The average shopper will fork out £1,174 – a rise of 9.6 per cent compared with 2014. In contrast, the average European will only part with £820 over the course of the year.
Although European shoppers tend to spend less online, the sector is still growing across the globe. Online sales will climb 18.4 per cent in Europe, 13.8 per cent in the US and 13.2 per cent in Canada, reports thedrum.com. Similar growth is expected in 2016 too.
Giulio Montemagno, senior vice president of international at RetailMeNot, said retailers are clearly benefiting from investing in better consumer targeting and improving the online experience.
“In the UK, consumers are now shopping online more frequently and spending more overall, helping to increase online retailers’ market share,” he stated. “This is being bolstered by a growing number of online shoppers; 65.5 per cent of Brits now shop on the web.”
The rising popularity of online shopping is causing in-store purchases to decline. In 2015, in-store sales will drop by 1.4 per cent across Europe, but the 18.4 per cent increase of online transactions means the retail sector will actually grow by around two per cent.
Author: Laura Varley