Amidst a backdrop of economic uncertainty in Europe, e-commerce continues to thrive and the volume of online shoppers in the region exceeds those in the US by four million.
The UK, France and Germany boast the highest number of e-shoppers, with 42 million, 37 million and 34 million respectively. However, Germany is set to close the gap on the UK with its e-shoppers as a percentage of the population lower than Poland in fourth place.
According to the same research from digital coupon marketplace, RetailMeNot, Swedish online shoppers are set to have the second highest average transaction value in 2014 of £47, behind the UK’s £59. Additionally Sweden has the highest percentage of e-shoppers in Europe.
Online vs offline sales growth
To confirm the growth rate of the online market, Giulio Montemagno, senior vice president of RetailMeNot, revealed how online was vastly outpacing brick and mortar sales not only in the UK, but throughout Europe.
“In 2014, we are expecting to see online sales across Europe grow at a rate that is 11.9 times faster than in-store sales,” Montemagno said. “In the UK, online retail is expected to increase by 15.8% this year while the offline segment will grow by only 2.4%.”
During 2014, Europeans are forecasted to spend £749 online, up 18% from 2013. By comparison, American consumers will spend £1,106 online, which is on average 14% more than last year.
For more insights into online retails sales in Europe and the US, take a look at the RetailMeNot infographic below.