2012-09-11 18:49:15 - Spanish online retail market poised for a vigorous period of growth
The Spanish online retail market has been forecast to see a compound annual growth rate (CAGR) of 4.4% in the share of total retail sales by 2016.Currently, only a mere 10% of Spaniards make a purchase online. Still, with compound annual growth rates approaching 20% in markets such as Spain, emerging European ecommerce markets are poised for a vigorous period of growth.A unique feature in the Spanish online retail market is the popularity and success of traditional mail-order businesses to adapt to online retail. As a result, companies compete with physical store retailers in markets previously considered incompatible with the online retail format.The share of online retail sales towards total retail sales increased from 1.1% in 2006 to 2.1% in
2011 and is expected to continue this increase to 2016. In terms of online market penetration, Music, video and entertainment software was the leading category, with 10.4% of purchases being made online in 2011.Additional leading categories of online sales in Spain include event tickets, followed in order of consumer interest by books, clothing, sporting goods, groceries, computer hardware, beer/wine/spirits, cosmetics/beauty products, footwear, domestic appliances, toys, cars, health products and household goods/furniture.Data security and low consumer confidence on online sites are factors for slow online retail growth in Spain. Fewer user friendly websites and a lack of specially designed mobile applications for the sites are drawbacks for m-commerce growth in Spain.For more information on the Spanish online retail market, see the latest research: Spanish Online Retail Market ReportFollow us on Twitter @CandMResearch
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