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By
Reuters
Published
Dec 21, 2010
Reading time
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European retail spend seen up 2.1 % in January sales

By
Reuters
Published
Dec 21, 2010

Dec 20 - Europeans are set to pick up spending in January as they look for bargains against a tough economic backdrop, with a particular focus on online shopping, according to a report published on Monday.


People shopping at H&M in Alexa Shopping Center, Berlin (Image by H&M)

The Centre for Retail Research, in a study commissioned by online shopping comparison website Kelkoo, forecast European retailers would take 118.7 billion euros (100.4 billion pounds) in the post-Christmas sales, up 2.1 percent on January 2010.

That compares with a forecast 0.8 percent increase in spending in the run-up to Christmas.

The data are drawn from national statistic authorities, independent research organisations including Euromonitor and Mintel and a survey of a cross section of 50 large retailers across Britain France, Germany, Spain, Italy, The Netherlands, Denmark, Norway and Sweden.

"Although the economic circumstances have resulted in a trend towards greater frugality, increased savings, and a reduced use of credit, we anticipate a positive start to 2011 for retailers," Kelkoo marketing director Chris Simpson said.

European shoppers are expected to part with an average 344.35 euros each, with Germans spending 3.6 percent more than the year before, the Spanish 2.5 percent more and the Danish 2 percent more. Dutch and Norwegian shoppers are tipped to see the lowest growth at 1 percent and 1.1 percent respectively.

Spending in Britain is forecast to rise 1.6 percent, but stripping out the impact of inflation and a rise in VAT sales tax in January, the study forecasts a 3.1 percent fall in UK retail sales in real terms during the first quarter of 2011.

It predicted online sales would leap 23 percent to 1.78 billion euros in January, with spending in shops increasing just 0.5 percent.

(Reporting by Mark Potter; Editing by Hans Peters)

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