Ker-ching! Europeans to spend EUR100 billion online

10-07-2006

by Silicon.com

Europeans are spending ever more money online, with research on Monday suggesting the total spent online during 2006 is likely to hit EUR100 billion.

That works out at an impressive average of EUR1,000 per person for a staggering 100 million internet shoppers across Europe, and it is UK shoppers who are leading the charge.

The average UK online shopper will spend EUR1,744 this year with their favourite websites.

According to Forrester Research the British are spending more on travel websites than any other e-commerce sites. Currently a third of all online spending goes on booking trips, according to Jaap Favier, research director of consumer markets at Forrester.

Favier predicts the travel boom will continue and grow to around EUR77 billion by 2011 -- an increase of 133 percent over the coming five years.

Other rapidly growing areas are also in leisure with online off-licences and wine clubs booming and expected to enjoy 283 percent growth over the coming five years, according to Forrester's figures.

Overall e-commerce sales will rise to EUR263 billion by 2011 -- a phenomenal sum which will be spent by 174 million shoppers.

Will Sturgeon writes for Silicon.com.

Reprinted with permission from Silicon.com