Online retail sales in Europe are expected to double by 2018, reaching €323 billion. This year online retail should hit €188 billion and some companies like Amazon are expected to see even faster growth, according to market research firm Mintel.
Mintel’s survey covered 19 markets in Europe and it was made exclusively available to Reuters. The survey found that Germany, Britain and France would remain by far the largest markets for online retail. However, the Netherlands, Spain and Poland should see fast growth, while Norway and Sweden already have the highest online per-capita spend.
Mintel analyst John Mercer said there is a big North-South divide in e-commerce in Europe. French participation levels lag Britain and Germany, but Portugal, Italy, Greece and Spain are even further behind, which is hardly surprising since they can barely afford Molotov cocktails now.
Amazon is expected to maintain its lead and double its market share in the next three to four years. Amazon currently has just five dedicated websites in Europe, in Britain, Germany, France, Spain and Italy. Mercer reckons Amazon would be better off with localised sites for the Nordics than Italy.
British grocers are doing surprisingly well. Tesco’s market share is 2.3 percent, Asda and Sainsbury’s have 1.1 percent and 0.9 percent respectively. However, online grocery shopping is not popular in the rest of the continent.