Europe's eCommerce sales are on course to surpass the €500 billion milestone in 2016, according to the European BC2 eCommerce Report by eCommerce Europe.
The European B2C eCommerce market still has ample room for growth, with 43 per cent of the market’s 15 years or older population shopping online and 16 per cent of them buying cross-border.
Marlene ten Ham, Secretary General Ecommerce Europe, highlighted 10 European countries, which together account for 85 per cent of all sales, with the UK, France, and Germany combined responsible for the majority of online turnover in 2015 at 34.5 per cent, 14.3 per cent, and 13.1 per cent respectively.
Russia, Spain, Italy, the Netherlands, Denmark, Sweden, and Switzerland round out the top 10 with a combined 22.3 per cent of the pie in 2015.
Growth continues, albeit at a slower rate. However, the fastest growth came from less mature markets such as the Ukraine, Turkey and Belgium, which grew by 35 per cent, 34.9 per cent, and 34.2 per cent respectively in 2015.
The overall European growth rate has actually decreased in the last four years, from 18.4 per cent in 2011 to 13.3 per cent in 2015.
This is a trend that is expected to continue in 2016, with a 12 per cent projected growth resulting in a European B2C eCommerce turnover of €509.9 billion.
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