Will Europeans overtake North Americans this Christmas to become the internet's biggest shopaholics?
New research by GartnerG2 indicates European consumers will out-spend their North American counterparts in the fourth quarter this year, purchasing $15.8 billion (€16 billion) worth of goods online against $15.7 million by shoppers across the Atlantic.
Consumers in North America, the most established online community, have been the driving force behind the medium's commercial growth, building US- based internet companies such as Amazon.com and eBay into the most recognisable dotcom retail brands.
But, as the research suggests, more populated regions of Europe and Asia are expected to kick off the next phase of internet commerce expansion in the coming years.
GartnerG2 cited the phenomenon of European retailers bringing their mail-order operations online as a primary factor.
"Europeans are using multiple channels, browsing printed catalogues and then ordering online. We're seeing this happen more, especially in the clothing and toy merchandise industries," said Mr Bill Mander, a GartnerG2 analyst.
This Christmas, the European e-commerce sector will grow by 75 per cent from the year earlier period, while the Japanese market is expected to jump by 37.7 per cent to $1.9 billion, the research firm is projecting.
The North American growth rate is 32.1 per cent. Worldwide online Christmas sales are projected to top $38 billion this year, a 48.4 per cent increase from the same period last year, GartnerG2 said.
The growth rate has dropped considerably from the triple-digit days at the height of the dotcom boom.
Those projections, however, proved disastrous for many start-up companies that hastily developed retail businesses only to fail when consumers stayed away.
While the early hype of e-commerce has vanished, there are signs that it could still prove a retail industry bright spot as price-conscious consumers head online to find bargains.
"Retailers should be prepared for a fourth-quarter online-shopping onslaught, even as the global economic outlook continues to sour," said Mr Michael Cruz, a GartnerG2 analyst.
Most online retailers continue to generate up to half their revenue during the fourth quarter, analysts say.
