E-commerce in the US and Western Europe
is predicted to see double-digit growth over the next five
years and will reach $279bn and €134bn
($185.3bn) respectively by 2015, according to a forecast
by research firm Forrester Research.
The e-commerce market grew 18% from 2009 to
2010 in Western Europe and Forrester projects further growth of 13%
from 2010 to 2011. It claims that growth rates will then level off
as the market matures and buyer penetration slows.
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Online retail is then expected to grow at a
10% compound annual growth rate (CAGR) from 2010 to 2015.
“The online retail market in both the US and
Western Europe remains strong, despite the challenging economy,”
said Patti Freeman Evans, Forrester VP and research director.
“In fact, with consumer purchasing behaviour
returning to normal, US web sales in 2010 actually accelerated over
2009 compared with the prior year, growing 12.6%. In Europe strong
growth in 2010 was fuelled by new online buyers and higher spend
per capita on the demand side, as well as the launch of
transactional websites by established offline players.”
Forrester estimates that 68% of online
adults will have made a purchase online in the region with
countries in Northern Europe appearing to lead the e-commerce
trend. 80% or more of the online population of Northern European
will buy on the web versus less than 50% in Southern European
countries.
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