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Ecommerce in Europe to account EUR 717 bln in 2020

Friday 10 July 2020 13:12 CET | News

An ecommerce research has revealed that ecommerce is expected to be worth EUR 717 billion in 2020, meaning a 12.7% increase compared to 2019.

According to Ecommerce News, although the COVID-19 outbreak has led to a surge in online shopping across Europe, the full impact of the virus might be visible in 2021. Moreover, the Ecommerce Region Report reveals that Western Europe is the most developed ecommerce market in Europe, accounting 70% of the total ecommerce value in Europe. Besides, Western Europe shows the highest share of online shoppers (83%).

Furthermore, the biggest growth in ecommerce markets is seen in Romania and Bulgaria, as both increased by 30% in 2019, which is the highest growth number in all of Europe. However, these countries also have the lowest share of online shoppers (respectively 31 and 29%).

Additionally, Spain shows a market development of 29%, while the lowest growth can be found in Belgium (7%), Ireland (7%), Austria (4%), and Iceland (3 %). The report also unveils that the UK has the highest share of online shoppers (94%), followed by Denmark (86%), Germany, the Netherlands, and Sweden (all 84%).

Besides, the report analysed the popularity of national and foreign online stores among shoppers. Accordingly, Netherlands-based consumers prefer shopping at domestic websites (95%), a trend that’s also noticeable in Poland (94%), while online shoppers from small countries such as Malta and Cyprus, shop at foreign ecommerce websites (96 and 95%).

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Keywords: Ecommerce Region Report, ecommerce, research, report, Europe, online shoppers, Romania, Bulgaria, Spain, Belgium, Ireland, Austria, Iceland, UK, Denmark, Germany, the Netherlands, Sweden, foreign ecommerce, national ecommerce, Poland, Malta, Cyprus
Categories: Payments & Commerce | Ecommerce
Countries: Europe
This article is part of category

Payments & Commerce