European Online Holiday Sales 2014 Will Reach €35 Billion
Online retail sales in Europe during the holiday months of November and December will generate €35 billion — representing 23% of total online retail sales for the year. This is according to Forrester’s new EU online holiday retail sales forecast 2014, which includes online, mobile, and tablet commerce across 17 European countries. At €12.6 billion and 25% of total online retail sales in 2014, the UK has the largest proportion of annual online retail sales falling during the holiday season, followed by Germany (€7.6 billion/21%) and France (€6.7 billion/22%).
The forecast identifies a number of factors influencing EU online holiday retail sales in 2014, including:
- Alternative delivery facilitating last-minute online buying: 49% of European online adults agree that they shop online because it is easier than going to a store, and this is likely to be even more relevant during the chaotic holiday season.
- New holiday sales days crossing the Atlantic: A growing factor influencing UK online holiday sales in particular are traditionally US holiday sales days such as Black Friday and Cyber Monday. Alongside large US-based retailers like Amazon and Apple, UK retailers including Argos, John Lewis, and Very are all adopting Black Friday sales, with John Lewis also extending store opening hours.
- A growing number of perpetually connected European consumers: Ownership of more connected devices, including smartphones and tablets, is increasing online penetration across Europe. In 2014, Forrester forecasts that mobile and tablet commerce revenues will account for 20% of EU-7 online sales.