E-commerce in Europe will reach a volume of €477 billion by the end of 2015, according to a study conducted by GfK for Ecommerce Europe.
For 2016, forecasts indicate that the volume will grow to 540 billion euros and that in 2017 it will rise to 609 billion euros.
Over the past four years, online purchases of goods and services have grown by 15% annually in the European market. The United Kingdom, France, and Germany are the three largest markets, representing more than 60% of total revenue in 2014. The United Kingdom alone accounts for 30%. But other markets are also standing out. Russia, for example, showed the fastest growth in 2014 and is expected to reach a turnover of €21 billion and growth of 25,4% this year.
The study also reveals that European consumers are increasingly making cross-border purchases. In 2014, 15% bought goods or services from countries other than their own, 25% more than in 2015.
