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Retail: Web sales set to soar in UK
Online retail sales are predicted to more than double in the next five years in Europe. Forrester Research believes purchases through the internet will rise rapidly to €263 billion in 2011, as the number of shoppers grows to 174 million.
The research company believes a mixture of improved supply, comparison shopping sties and a more confident online buyer will drive the yearly retail online spend to €1,500. It is also forecast that net consumers in the UK will outspend their US counterparts, with key online categories being travel, clothes, groceries and consumer electronics.
Forrester shows that the UK currently heads up the European league of internet spenders, followed by Germany. The average UK online shopper will spend as much as €1,744 in 2006 and €2,410 in 2011 according to Forrester. This will increase UK ecommerce from €43bn in 2006 to €76bn in 2011, or 29% of total European net retail.
© db August 2006