Digital Will Influence 54% Of European Retail Sales By 2021
Forrester released new data this week that shares insight into how digital will influence European retail sales. According to the data, digital assets will help all European retail sales grow from 42% in 2016 to 54% by 2021. These sales include both direct online sales (8%) as well as in-store sales that customers’ digital research has influenced (46%) — see the graphic below. A few specific industries will benefit from digital influence, including jewelry and watches; computers, software, and video games; sports equipment; clothing and footwear; and home improvement, household appliances, and furniture.
On the holiday front, Forrester forecasts that Western European retail sales during November and December 2016 will account for just under one-third of total retail sales in 2016, reflecting a spending growth of just 9% for holiday sales. This is more subdued than in previous years, due to the economic uncertainty surrounding Brexit and fluctuating currency values. Nevertheless, European consumers will continue to shift their holiday spending online due to the increased connectivity, convenience, and value of digital touchpoints.
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