Europe's Ecommerce Sales Set To Surpass €500 Billion In 2016
The European B2C eCommerce market still has ample room for growth with 43 per cent of the market’s 15 years or older population shopping online and 16 per cent of them buying cross-border.
Marlene ten Ham, Secretary General Ecommerce Europe, highlighted 10 European countries accounting for 85 per cent of all sales, with the UK, France, and Germany combined responsible for the majority of online turnover in 2015 at 34.5 per cent, 14.3 per cent, and 13.1 per cent respectively.
Russia, Spain, Italy, the Netherlands, Denmark, Sweden, and Switzerland round out the top 10 with a combined 22.3 per cent of the pie in 2015.
Growth continues, albeit at a slower rate. However, the fastest growth came from less mature markets such as the Ukraine, Turkey, and Belgium which grew by 35 per cent, 34.9 per cent, and 34.2 per cent respectively in 2015.
The overall European growth rate has actually decreased in the last four years, from 18.4 per cent in 2011 to 13.3 per cent in 2015.
This is a trend that is expected to continue in 2016 with a 12 per cent projected growth resulting in a European B2C eCommerce turnover of €509.9 billion.
Many retailers still struggle to exploit the full potential of pan-European eCommerce market. Today, a majority of European Internet users shop online yet only 16 per cent of SMEs sell online, with less than half of those - 7.5 per cent - selling online across borders.
Cross-border sales also grew from a low base. Some 16 per cent of all individuals in the 28 member states bought goods and services from other EU countries in 2015 — a 33 per cent increase on 2013.
The report identified more competitive prices and a wider range of goods and services as popular reasons for cross-border pan-European shopping.