The European retail market continues to be dominated by the top five EU countries (France, Germany, Italy, Spain and the UK), however, their combined share is expected to decline from nearly 60% in 2006 to less than 50% by 2016. Russia is expected to contribute nearly 20% towards regional retail sales by 2016.
The European retail market was dominated by food and grocery sales in 2011, with the segment accounting for over half of total sales. However, while this category was the largest, its sales remain relatively stable year on year.
General retailers were the largest channel group, contributing 47.8% towards total European retail sales in 2011, or US $1,895.3 billion in value terms.
Since 2006, online retailers have become the fastest-growing channel group, with a CAGR of 11.77%, and are expected to remain the fastest-growing category group through to 2016, at a CAGR of 11.94%.
In 2012, online sales in Europe are forecast to grow by 16.1% (compared to 18.7% last year) to a new total of £197.19 billion (€232.76 billion).
It is expected that the rate of growth of online retailing in the UK and elsewhere in Europe will be slightly lower than 2011, reflecting the continued economic slowdown
Confidence has eroded within the European retail market in many countries that are witnessing fiscal austerity, low wage growth and high unemployment. However, however sales growth across the European retail market is expected to pick up somewhat in 2012 as inflation eases.
For more information on the European retail market, see the latest research: European Retail Market Report
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