JUPITER RESEARCH ESTIMATES THAT EUROPEANS WILL SPEND 4.5 BILLION EUROS ONLINE IN THE RUN UP TO CHRISTMAS THIS YEAR - AN INCREASE OF 55% ON LAST YEAR(London, U.K. - November 12, 2002) - The latest findings from Jupiter Research, a division of Jupitermedia Corporation (Nasdaq: JUPM) (formerly INT Media Group, Inc.), show that online spending during November and December in Europe will reach 4.5 billion Euros - a 55% increase over the same period last year.
This continued growth in online sales is being fueled by the rapidly increasing number of online shoppers in Europe, which is far outstripping the growth in the European Internet population as a whole. The online buying population in Europe will have increased from 36 million in 2001 to 52 million at the end of 2002. It is clear that the investments that high-street retailers are making online are beginning to pay off as existing Internet users gain the confidence to start shopping online.
Online spending will be highest in the U.K., with the total spent in November and December expected to reach 1.4 billion Euros or 850 million Pounds - 1/3 of the total online spending for the year. Closely behind the U.K. is Germany, where 1.1 billion Euros will be spent in the run up to Christmas.
Consumer electronics, PCs and entertainment products (books, videos and DVDs and music) are expected to be the largest retail categories, combined together, accounting for over one third of total online Christmas spending. The run up to Christmas will be crucial for online retailers, with 40% of annual online spending on consumer electronics and 34% of spending on entertainment products taking place in November and December.
Michele Poliziani, Associate Analyst at Jupiter Research says, "Although growth in the online population as a whole in Europe is slowing, growth in the number of online shoppers remains strong. As their online tenure increases and as well-known high-street brands invest heavily online, European Internet users feel increasingly comfortable in shopping online."
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