H&M Group has announced the online expansion of five of its brands. This month, COS, Weekday, Monki, & Other Stories and Arket will have their collections available online in nine new markets across Europe.
Ecommerce in Greece is expected to be worth 4 billion euros at the end of this year. That would be an increase of over 8 percent, compared to the 3.7 billion euros the Greek ecommerce industry was worth last year.
E-Fresh, a fast-growing online grocery retailer from Greece, has had a successful year. The digital supermarket yesterday announced that its sales have increased by 93 percent last year. The company also secured a 88 percent repeat customer rate, while the number of customers grew 94 percent.
The Greek ecommerce association GRECA (which is short for Greek Ecommerce Assocation) has launched the first ecommerce trustmark from Greece. The organization launched the trustmark in cooperation with Ecommerce Europe and the E-Business Research Center. Awardees will be subject to an audit to make sure they comply with European consumer law.
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.
Groupon is no longer active in Greece and Turkey. The American ecommerce company pulled the plug on its operations in these two Southern European countries last week. It’s still not clear why the Greek site is offline now, but Groupon backed down in Turkey because of financial expectations that couldn’t be met.
People from Greece seek their fortune online, since they are now allowed to withdraw only 60 euros per day. Especially bigger purchases like kitchen appliances or smartphones are popular among the Greeks, while online fashion retailers on the other hand saw their sales decrease the last couple of weeks.
With regards to the financial crisis, Southern Europe is still one of the most damaged regions in Europe. But maybe the ecommerce industry can change this, little by little. It’s estimated that online sales in this region will reach 47.8 billion euros at the end of this year, while this part of Europe also has shown an average annual growth rate of 22% since 2010.
It may not have been all moonlight and roses for Southern Europe with the financial crises countries like Spain, Italy and Greece had to face, but in terms of ecommerce this European region is doing well. It’s expected that the total online economy of sold goods and service in Southern Europe in 2013 amounted to 39,5 billion euros.