Retailers have teased and rolled out online deals for days, even weeks, but the real Black Friday is here.
Consumers in the UK, France and Germany will account for nearly 60% of those sales.
European online shoppers will spend approximately 52.0 billion euros (US$69.43 billion) during the eight weeks leading up to Christmas, according to a holiday sales projection from Interactive Media in Retail, an e-commerce industry trade group in the United Kingdom. That is up 19.8% from approximately 43.4 billion euros ($57.95 billion) Europeans spent during the same period a year ago.
Consumers in the U.K. will account for 30% of the total, spending 15.6 billion euros (US$20.83 billion) online from Oct. 30 to Dec. 24. IMRG says consumers in France will spend 7.5 billion euros ($10.02 billion), and consumers in Germany will spend 7 billion euros ($9.35 billion). The three nations, which the trade group says have 100 million online shoppers among them, will account for 57.9% of all e-commerce holiday spending in Europe.
IMRG projects the spending among other European nations or regions as follows:
• Scandinavia 5.2 billion euros ($6.95 billion)
• Italy 3.7 billion euros ($4.94 billion)
• Spain 1.8 billion euros ($2.41 billion)
• Netherlands 1.8 billion euros ($2.41 billion)
• Russia 1.5 billion euros ($2.00 billion)
• Czech Republic 0.5 billion euros ($668.2 million)
• Other countries 7.0 billion euros ($9.36 billion)
IMRG says Internet use and online shopping penetration is greater in the northern parts of Europe than in other regions, but year-over-year growth rates show that the Internet and e-commerce are spreading rapidly across Europe. Russians, for example, will spend 1.5 billion euros online for the holidays, accounting for only 2.9% of total European e-commerce holiday spending this year, but IMRG says that spending is 30% greater than last year.
Internet Retailer estimates total e-commerce sales in eight Western European countries will reach 133.9 billion euros ($182.6 billion) by the end of 2011, according to the Internet Retailer Top 300 Europe Guide.