Member Article

UK leads Europe in e-commerce

The UK’s online retail market is the largest in Europe at 9.79 billion Euros, reveals research by market research company MINTEL. The UK has overtaken previous market leader Germany, which despite having the largest economy in Europe, is 80 million Euros behind the UK online. France is the third largest e-commerce market in Europe. Collectively, the top three nations make up almost 65% of the whole European e-commerce market. The e-commerce sector is expected to grow at an incredible rate over the next few years; currently, it only amounts to 2% of total European retail sales. Although France is predicted to experience the greatest growth in the next few years, the UK will remain the largest market growing 102% to 19.80 billion Euros by 2010.Two in three adults now have access to the Internet, rising to 80% amongst those who work. Greater competition among UK broadband providers has led to falling prices and faster Internet speeds, which has ultimately been the major driver of e-commerce growth. Neil Mason, senior retail analyst at MINTEL said: “The business to consumer e-commerce sector has come of age and is gaining consumer acceptance as a ‘normal’ retail sales channel.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .