Boston, MA -- (SBWIRE) -- 07/07/2014 -- The economic slowdown in Greece is having an effect on retailing sales as consumers reduce spending, yet this is offset by more shoppers using the Internet to find products at lower prices. Rising broadband penetration and a further reduction in Internet access billing continued to drive the positive demand of Internet retailing towards the end of the review period, despite the considerable drop of overall consumer consumption and confidence. Growth was sustained, however, as consumers came to the channel in order to enjoy the larger selection of products on offer, as well as greater discounts and promotions. As the popularity of this channel has increased, competition has intensified, with new retailers moving into the space and established ones coming to offer a wider range of products than is possible in bricks and mortar outlets.
Amazon.com Inc increased its penetration of Greek retailing and took over the lead in Internet sales for 2012. Its value share reached 15%, growing from less than 14% the year before. The company continued to see high traffic and demand through all of its websites, with Greeks using mostly Amazon.co.uk and Amazon.de. This was the result of the retailer's vast product variety, good prices and wide recognitions and trust among Greek consumers, while free delivery in Greece for purchases exceeding GBP25.00 was also an important factor. In total, Amazon.com Inc was among the best performers in 2012, managing to increase its share by one and a half percentage points over the course of the year.
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Internet retailing is expected to see increasing importance over the forecast period as retailers hope to see growing sales. Companies throughout the retail environment will come to recognise the need for multi-channel sales as an integral part of their development strategy, not least as the economic climate remains taut and consumer confidence low, demanding new avenues for business growth. Internet retailing is predicted to continue growing at a constant value CAGR of 12% over the forecast period. Price, convenience, wide product range and home delivery are all factors that will continue to act in favour of online shopping despite the recession and low consumer confidence. Expectations are that the channel will benefit from the rising trend for value-for-money purchases and increasing demand for discounts and offers, especially on high-ticket items.
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The Internet Retailing in Greece market research report includes:
- Analysis of key supply-side and demand trends
- Detailed market shares for international and locally-based retailers
- Historic volumes and values, company and brand market shares
- Five year forecasts of market trends and market growth
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Our market research reports answer questions such as:
- Who are the leading retailers in Greece?
- How quickly is internet retailing growing in Greece?
- What products are selling best over the internet?
- Which internet sites are attracting the most sales?
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Product coverage: Apparel and Footwear Internet Retailing, Beauty and Personal Care Internet Retailing, Consumer Appliances Internet Retailing, Consumer Electronics and Video Games Hardware Internet Retailing, Consumer Healthcare Internet Retailing, Food and Drink Internet Retailing, Home Care Internet Retailing, Home Improvement and Gardening Internet Retailing, Housewares and Home Furnishings Internet Retailing, Media Products Internet Retailing, Other Internet Retailing, Traditional Toys and Games Internet Retailing.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
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