Online retail to grow by 15% to 2016

Jul 10 2012, 13:32 PM

Online retail will grow by 15 per cent every year through to 2016, a new study has found.

As more businesses determine a single customer view, shopping on the internet has grown by roughly 14 per cent since 2006, with the UK, Spain, France, Germany and Italy representing 60 per cent of its European sales in 2011, according to a report by Market Research.

Entitled Global Online Retailers Market Size and Forecast to 2016, the research found that the aforementioned countries combined share of the market is set to drop by 2016, with Russia instead expected to account for 30 per cent of the region's total sales.

North America also takes up a significant amount of the world's sales from the channels, with the area accounting for more than 40 per cent of purchases.
Other platforms are also contributing to the increase of transactions via the internet, including m-commerce.

Speaking at the TFM&A (Technology for Marketing & Advertising) Manchester event, Andrew McClelland, chief of operations and policy at the Interactive Media in Retail Group, believes that the advantages of the technology have arrived earlier than expected.