Despite a challenging economy and the tough economic times, online sales in European markets grew by an impressive 18 percent last year. According to online selling reviews, market experts believe that the figures for 2011 will be at least 13 percent by a conservative estimate. In terms of value, the figures are about €9.2 billion. Those who have contributed to the growth of online business include new online buyers.
The UK will continue to lead online sales, according to reliable online selling reviews. A whopping 72 percent of the British population shopped online in 2010. Online grocery sales and non-travel retail sales are the segments that would have a large contribution to this staggering growth rate.
Online retail markets in the US and Western Europe continue to remain strong and do not seem to be overtly affected by the poor show of the economy. Purchasing power of consumers is seen as getting stronger after a poor first half of last year. Also, people prefer to shop online and not through the traditional methods, especially on weekends and during the holiday season because of the sheer convenience of the task.
According to online selling reviews, consumers prefer shopping on the Internet because online retailers use the holiday season to announce unbelievably low prices for products they are most likely to use during festival seasons. This attracts consumers in droves to their online store. They see a great opportunity to save money by shopping online.
Even during normal times, the trend to shop online has seen a distinct growth. Experts attribute this to the twin benefits of low prices and the option to choose from a wider category of products. Of course, the convenience factor weighs heavily on consumers’ mind.
The year 2010 saw a very strong surge in online purchases by consumers in European markets. Established offline players also entered the online retailing business during this period, clearly pointing out which way the wind is blowing.