February 11, 2011

Europe Is Outpacing U.S. In Online Clothes Shopping

 

Online fashion retail is becoming increasingly competitive as more retailers enter the market to capitalise on the growing popularity of online shopping in Europe. Online spending is expected to grow 18% to more than 200 billion euros ($271.8 billion) in 2011. In comparison, the Unites States is expected to have 11% growth to $192 billion, according to Kelkoo. "2011 will see online sales achieving a significant share of retail trade in most European countries, with 7 cents in every euro being spent online on average," Kelkoo CEO Richard Stables said in a release last month.

In recent months Zara and H&M have joined other retailers such as Gap, Victoria's Secret and Abercrombie & Fitch in the competition to win a share of shoppers' spending. In the wake of the increased competition online, Gap announced that it will push its e-commerce brand to eight more European countries. Gap and Banana Republic will enter Austria, Estonia, Finland, Luxembourg, Malta, Portugal, Slovakia, and Slovenia. Gap already sells online in Belgium, Denmark, France, Germany, Ireland, Italy, Netherlands, Spain, Sweden, and the United Kingdom.

For more information about online fashion retail, view the entire articles: Online clothes shopping: Europe outpacing U.S.; Gap wants to fill any gap in online European apparel retailing

 

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