Online sales have shown a significant increase this year capitalizing on the return of consumer confidence across Europe.
European shoppers spent £11.2 billion online in July, 15.7% more than was spent in June and 16.8% more than July 2008.
The driving force for the increase appeared to be the clothing, footwear and accessories sector, which showed growth of 18% month on month and 17% year on year, the latest IMRG Capgemini e-Retail Sales Index said.
Retailers across Europe are predicted to sell $97 billion in goods and services online in 2010, up 37% from last year.
Owing to this unprecedented growth Retail Giants will join forces at the iStrategy program this October in Berlin to capitalize on the growth of the Online Dollar.
Visionaries such as Babs Rangaiah, Global Director Communications Planning Unilever, Rikke Wivel, VP Global Advertising and Media Monster, Michael Donnelly, Group Director The Coca-Cola Company, Michael Buck, Global Head SMB Online Dell, Sarah Evans, Head of Mobile Advertising O2, Thomas Marzano, Creative Director Phillips will be sharing the innovative steps they have all taken to drive value through online investments.
This meeting further illustrates the migration to new media for retail giants.
The growth of Web 2.0 has lead to far greater opportunities for such retail giants outside to the obvious sales growth.
With more of us sharing personal information online through sites like Facebook, Linkedin, MeettheBoss and Xing, companies can monetize online investment through analyzing consumption patterns, behavioral targeting, cost effective online product testing and having direct contact with the consumer.
Online is still the key growth market and in the midst of a Global recession it seems to be the main focus for European retailers.