Ecommerce in Europe: €602 billion in 2017
Ecommerce in Europe is growing exponentially, especially in the southern countries. The online retail industry in Europe is expected to be worth around 602 billion euros at the end of this year, which would mean ecommerce in Europe will grow 14 percent compared to the situation in 2016.
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Last year, ecommerce in Europe was worth 530 billion euros (while predictions said 509.9 billion), which was an increase of 15 percent compared to the year before. Now, the online retailer industry is expected to increase by 14 percent, so it will reach 602 billion euros. This is one of the findings of the European Ecommerce Report 2017, which was presented by Ecommerce Europe, EuroCommerce and the Ecommerce Foundation today. The reports shows several ecommerce trends, facts and figures and offers insights into each of the European ecommerce markets.
Another interesting fact from this annual report is that the share of companies (with more than 10 employees) having a website has grown significantly: from 67 percent of all retail companies in 2010 to about 77 percent last year. Still, only 18 percent of these companies sell products and/or services through their website.
Share of consumers who shop online
The share of consumers who shop online is highest in the mature ecommerce markets. For example, 87 percent of consumers in the UK order products via the internet, while in Denmark and Germany the shares are 84 and 82 percent respectively. But in countries such as Romania, Macedonia and Bulgaria the share of people shopping online are the lowest.
But you can’t say ecommerce isn’t growing in Central and Eastern Europe. On the contrary, in Romania, online sales increased by 38 percent, while the ecommerce markets in Slovakia and Estonia grew 35 percent. Ukraine saw a growth of 31 percent, and Poland and Bulgaria both grew 25 percent last year.
Cross-border ecommerce in Europe
The report also shares insights into cross-border ecommerce in Europe. Last year, 33 percent of online shoppers in Europe purchases abroad, with Luxembourg, Russia and Switzerland (each over 60 percent) topping this list.
And of course, there is always a difference in age groups when it comes to online shopping. Last year, two-thirds of 16-24 year olds shopped online frequently, while only one-third of the 55-74 year old did this.
Most popular complaints about ecommerce
And despite all the efforts from the European Union, there are still challenges consumers face in their online shopping experience. Most complaints were about the speed of delivery, technical failures and damaged goods.
For more facts about ecommerce in Europe, please check out the EcommerceWiki.