Ecommerce in Portugal
Portugal is a Southern European country, with Spain as its only direct neighbor. It is considered a developed country and has an advanced economy and high living standards. Portugal’s economy was growing harder than the EU average in the 1990s, but later on its growth rate slowed. And in order to comply with conditions of an EU-IMF financial rescue package (€78bn), the Portuguese government began implementing spending cuts and tax increases several years ago. In May 2011, Portugal became the third Eurozone country to be bailed out of a sovereign debt crisis.
It’s estimated that more than 10.8 million people live in Portugal, of which 42.4% is between 25 and 54 years old. According to data from 2014 about 7 million Portuguese inhabitants (68%) have access to the internet.
|Population||10.8 million people|
|– % internet users||68%|
|Online sales||€4.7 billion (prediction for 2017)|
|Online stores worth mentioning:||Worten, Wook, Continente|
- Ecommerce customers in Portugal
- The ecommerce market in Portugal
- Big online stores in Portugal
- Latest ecommerce news from or about Portugal
Ecommerce customers in Portugal
Portugal is a country with a lot of e-cheque payments. Payshop is a Portuguese payment solution that allows consumers to pay online by visiting a Payshop agent (such as petrol stations or supermarket) equipped with an invoice of a reference. MBNet from MultiBanco is another often used payment solution. It allows making online transactions with a credit card without having to give away any credit card information to the online merchant. A study from 2017 shows that Portuguese shoppers like to pay with credit card and the aforementioned MB NET service.
One in ten Portuguese inhabitants between 16 to 74 years old had ordered something online in the three months preceding a survey from Statistics Portugal in 2011. Data from Ecommerce Foundation shows there were about 3.1 million online shoppers in Portugal in 2016.
The ecommerce market in Portugal
According to data from ecommerce solution Ekos Global, the ecommerce market in Portugal amounted to 951 million euros in 2011. And although things in Portugal aren’t going that well economically, the ecommerce industry saw its sales increase with 64 percent during the first quarter of 2013. Data from Ecommerce Europe shows ecommerce in Portugal increased by 13.3 percent in 2014 and was worth 2.9 billion euros that year. And in 2016, research showed that ecommerce in Portugal was worth 4.2 billion euros in 2016. One in ten Portuguese sites recorded a 100% growth in the number of customers, according to data from the Quarterly Barometer ACEPI / Netsonda. More information about the ecommerce market in Portugal can be found on EcommerceWiki.
Big online stores in Portugal
When ranked by unique visitors per months, Zalando is the biggest B2C ecommerce site in Portugal, followed by Amazon, Euronics, IBS and BonPrix. Other popular ecommerce sites in Portugal are Yoox and Portuguese online stores Salsa and Parfois.
Latest news about Portugal
Groupon closed the doors of 4 European websites. After closing its operations in Greece, Turkey and the Nordic countries, the American ecommerce marketplace is now shutting down in Ukraine, Portugal, Switzerland and Austria. Since yesterday, these websites no longer offer customers interesting deals from local retailers.
Lesara, a Berlin-based online fashion and lifestyle retailer, has announced it will now also supply customers in the United Kingdom, Spain, Greece, Portugal, Bulgaria, The Republic of Ireland, Romania, Hungary, Estonia, Latvia, Slovakia, Poland, Czech Republic, Sweden, Denmark and Finland.
For ecommerce players, having an omni-channel approach is getting more and more important as customers continue to demand ever-higher levels of service. This requires retailers to adapt new models and be everywhere the customer wants them to be. Specific approaches to omni-channel however, differ widely from country to country.
Curated fashion platform Farfetch this week announced a €78 million round of investment, led by DST Global, with participation from existing investors Condé Nast International and Vitruvian Partners. The money will be used to further expand across the globe, such as launching websites in German and Spanish.
Last update: September 2017.