Impact of Covid-19 to accelerate European e-commerce growth by 1 year
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According to Savills, the impact of the pandemic is set to accelerate online retail penetration by an average of one year and, in turn, drive demand for prime logistics space in Europe.
Prior to Covid-19, average online activity as a total proportion of the total retail sales in Western Europe was forecast to reach 15.3 percent by 2022. However, the Center for Retail Research’s (CRR) post Covid-19 online penetration rate forecasts that this level will now be reached by 2021.
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