June 25, 2004
Source: eMarketer.com
A new report from VISA shows widespread and growing adoption of online shopping throughout Europe. Vive l'Internet! "These are the healthiest post-Christmas online sales figures for several years," said Bernard Ovink, Vice President of Visa EU, with a smile on his face.
"Across Europe, and across sectors, growth is very healthy," he continued. "More and more people are beginning to shop online and loyalty to online brands is increasing. Retailers are becoming smarter at gaining share of wallet, and making it easier for the consumer to buy.
The numbers back up Ovink's enthusiasm. Across Europe, quarter-to-quarter and year-to-year online spending is approximately doubling.
Total UK sales figures for the first quarter of 2004 were more than twice that of the same period in 2003, an increase of 123%. During that time, Visa cardholders in the UK spent over £2.4 billion on the Internet.
According to VISA, the big winner was the retail industry, particularly purveyors of food and drink, which saw sales more than triple. This growth was helped by a rise in the number of people ordering groceries from supermarkets online. The popularity of buying books and music was also strong, with an increase of 116%.
Gains were across the board, however, with all categories growing. Brits spent almost five times as much on insurance, and four times as much on utility bill payments and taxes online during the past year. Travel and tourism remained strong, as well, with annual expenditure up by 159%.
Italian shoppers are rushing online, too. Visa reported a 144% increase in online credit card purchases in Q1 2004 over the previous year. Visa sales in Italy totaled €238 million for the period.
Travel and tourism lead the growth, jumping 339%. Retail sales also increased with food and beverages up 242%. Books and music rose 94%.
Here are the overall increases across Europe by country:
Spain — 166%
Italy — 144%
France — 140%
UK — 123%
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