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April 16, 2011

U.K. online apparel sales to grow 60% by 2015

U.K. consumers looking to buy apparel increasingly are trading bricks-and-mortar shops for online stores, according to a new report from Mintel.

According to The market research firm Internetretailer , more than a third of U.K. consumers, 34%, shopped online for clothes in 2010, up from 25% in 2009. The company attributes the marked uptick in online apparel shopping last year to several well-known U.K. retail chains launching or improving their web sites and to consumers’ increased access to the web.

U.K. consumers spent 4.3 billion pounds ($7.01 billion) online buying apparel in 2010. Mintel projects sales will reach 4.8 billion pounds ($7.83 billion) by the end of 2011, an 11.6% increase, and 6.9 billion pounds ($11.25 billion) by 2015, a 60.5% increase over the 2010 spending level and a 9.9% compound annual growth rate for 2010-2015.

The top 10 merchants in Internet Retailer’s Europe Top 300 account for 23.2% of all online retail sales on the continent, but it’s Amazon that dominates. In 2010, Amazon accounted for 16.3%—9.36 billion euros (US$13.1 billion)—of the online sales of all Europe Top 300 retailers.