SAJTÓKÖZLEMÉNYEK | | EU online retailing 2011 - massive potential

ResearchFarm: EU online retailing 2011 - massive potential
Külföld | 2011-06-03 | ResearchFarm

A new ResearchFarm report, "EU Online retailing 2011: Sizes and forecasts" finds that the EU single market's 130m connected households (2010) present a golden opportunity and massive growth potential for multichannel retailers.

In 2010 one in every EUR 25 spent on retail across to EU went through the online channel. Online sales of physical goods, excluding services (such as tickets, airfares, digital downloads, financial products, online gambling etc), traditional mail order sales and C2C sales (through the likes of eBay, PriceMinister) stood just shy of EUR 100bn, having grown by a CAGR of 23.8% over the last five years or by 190% in nominal terms, all the way through the deepest recession the continent experienced in 60 years.

Average online spend (calculated on a household with broadband connection basis) across the EU 27 declined between 2005 and 2009 before sharply rebounding in 2010 to EUR 764, mainly as a consequence of broadband penetration outpacing online sales over the period.

In 2010 EU online retailing was clearly dominated by the three major EU markets, the UK, France and Germany followed by the Netherlands and Scandinavia, showing a clear bias towards Northern Europe, with the most advanced member states of Central Eastern Europe emerging surprisingly high up the table, Poland is already the fifth most important online market within the Union. Turning south, both Italy and Spain's online markets arguably show the biggest potential for online development as broadband penetration and online spend is still relatively low and we expect both markets to rapidly catch up over the next decade.

Indeed the Spanish market is an interesting case in point, as Spaniards spend more online on goods coming from abroad (with the US and the UK major exporting markets) than from their own domestic market, highlighting the massive opportunity for the likes of El Corte Ingles, Zara, Mango or Mercadona (to name but a few) to develop the domestic market further.

The Scandinavian markets - while quite small on their own - show a considerable degree of online cross border shopping too, attributable to the fact that the markets share close linguistic ties (Finland being the exception) - and exhibit a high degree of social trust which has transferred to online retailing as well. Germany is another market that sees many orders from its northern neighbours.

While the UK online market is by far the biggest in actual size followed by France and Germany, Danes are the EU's most avid internet shoppers, calculated on a broadband connected average household spend basis (excluding the outlier Luxembourg). On average Denmark's online shoppers spent EUR 1,462 on physical goods in 2010, leading the UK, France and fellow Scandinavian markets Finland and Sweden.

The broad development in online retailing over the 2005-15 period can be characterised as moving from multichannel in 2005 to m-commerce in 2010 and towards internationalisation by 2015. As such a massive prize awaits the winning retail players, serving potential customers across the whole EU market or 126m connected households as of 2010. We forecast that this number will gently rise to 163m households over the next 5 years.


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