Europe’s eCommerce market is now valued at €246 billion, according to new figures from the European Multichannel and Online Trade Association (EMOTA).
Europe’s eCommerce market rose by 19 per cent last year. The dramatic rise means that Europe is now the world’s leading eCommerce market. In comparison to these figures, the North American market is valued at €237 billion. Online retailing now accounts for 5.1 per cent of the total value of the European retail market.
“Considering that Europe is currently experiencing an economic crisis, y-on-y growth of 19 per cent is an outstanding performance to become the largest e-commerce region in the world,” said James Roper, Vice-President of EMOTA and CEO of IMRG.
European shoppers are also using competitor price monitoring websites to find the best deals on the goods they are looking to purchase.
Mobile looks set to play an “increasingly important role” in this growth, said Roper, as mobile Internet access becomes more widespread supported by greater WiFi availability. “We are really seeing mobile shopping start to come of age now, with both UK visits and sales through the channel recording extraordinary growth over the past two years.”
© Profitero 2012
Pricing intelligence company Profitero works with retailers and manufacturers to help them increase sales and maximise their profits by using competitor price, promotions and stock information at scale. For more information on Profitero price intelligence and competitor monitoring, visit www.profitero.com or email sales@profitero.com.