By 2018, Forrester forecasts that 44% of all retail sales in Europe will be in-store sales that are influenced by the web. The growth of these cross-channel retail sales again emphasises the importance of a digital presence on a shopper’s multichannel journey – as well as the importance for retailers to be price competitive, whether that be in-store or online.
Forrester’s European-Cross Channel Retail Sales Forecast: 2013 to 2018 projects the growth of cross-channel sales in Europe: sales that are influenced by digital touchpoints but where the purchase is completed in a physical store.
The report predicts that by 2018, 44% of in-store sales will have been influenced by the web, with shoppers buying in-store following online research at home and/or research carried out in-store using a smartphone.
Cross-channel sales – in-store sales influenced by online research – are currently five times larger than online sales, with Europeans spending €5 in-store for every €1 spent online after researching products via digital touchpoints.
Despite double-digit growth of online sales in Europe, Forrester predicts that cross-channel sales will account for a greater proportion of total retail sales, reinforcing the need for excellence in cross-channel retail.
This is the first time that Forrester has developed a European version of its cross-channel retail sales forecast – to complement its US version – with this study focusing on seven European markets: UK, France, Germany, Netherlands, Italy, Spain and Sweden.
The UK, Germany and France account for 72% of cross-channel sales currently, with the report predicting that household appliances, toys, electronics, computers and sports equipment will be amongst the key cross-channel categories by 2018.
These latest predictions from Forrester underline the growing importance for retailers to deliver an integrated omnichannel offering, with consistency in product assortment and price key across all channels. With more and more of us going online to research prices before making our final purchase, staying price competitive – whether that be in-store or online – will become even more vital.
To help retailers better understand how they can compete and win in today’s fast-moving world of omnichannel retail and dynamic pricing, don’t miss Profitero’s essential webinar featuring renowned Forrester analyst Sucharita Mulpuru.
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