Last year, e-commerce activity in Europe increased by 15% to €530 billion, while the 2017 forecast predicts a 14% growth to €602 billion, according to the latest findings of the European Ecommerce Report 2017.
While growth is welcomed, the report notes a number of areas where further growth is possible. It said that the percentage of European retail firms with an e-commerce site has increased from 67% of firms in 2010 to 77% in 2016 – but only 18% of companies can complete transactions through them.
Western Europe is home to the largest number of online transactions, with the UK accounting for one third of all European online sales.
The largest online shopping markets in Europe include the UK, France and Germany, accounting for almost 70% of online transactions in Europe. However, the biggest shopping populations are found in Luxembourg (98%), Norway (98%) and Denmark (97%).