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Happy holidays for online retailers in Europe

Happy holidays for online retailers in Europe

Nov 12 2002: Online consumer spending in Europe during the holiday season is expected to reach EUR4.5 billion (USD4.54 billion), reports Netimperative.

This is an increase of 55 percent versus the same period last year.

New data from Jupiter Media suggests that the projected rise in online consumer sales is due to an increase in the number of Europeans shopping via the Net.

According to the research firm, the online buying population in Europe will have increased from 36 million in 2001 to 52 million at the end of 2002.

Jupiter predicts that online spending will be highest in the UK, with total spend in November expected to reach EUR1.4 billion(USD1.41 billion). Germany will follow close behind with EUR1.1 billion (USD1.11 billion) being spent online during the holiday season.

The report indicates that consumer electronics, PCs and entertainment products combined will account for more than one-third of online purchases in Europe during the holiday season.

Around 40 percent of annual online spending on consumer electronics and 34 percent of spending on entertainment products takes place during November and December, according to Jupiter.

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