European ecommerce to keep growing in 2022: report

Tuesday 28 June 2022 10:12 CET | News

Ecommerce Europe and EuroCommerce have published the ‘2022 European E-commerce Report’, which reveals ecommerce continues to grow, despite lockdown being lifted.

It is noted on the report that in 2021, European ecommerce grew by 13% to EUR 718 billion euros. The growth rate has remained stable, though it has risen slightly compared to 2020. The 2021 B2C turnover figures show that ecommerce continues to gain momentum, despite lockdowns being lifted and consumers’ ability to visit physical stores again.

After the peak of the COVID-19 pandemic, ecommerce has become more firmly anchored in the economy and society. Overall, two trends can be identified. On the one hand, the normalisation and stabilisation of the sales compared to 2020: ecommerce continued to grow in 2021 and is also forecast to do so in 2022, with growth slowly stabilising.

On the other hand, the report identifies that consumers are being more careful in their spending. The effects of the war in Ukraine, inflation, disrupted global supply chains and a general feeling of uncertainty, are bringing the growth figures back to pre-pandemic levels.

Nonetheless, the fact that ecommerce sales are only experiencing a small decline so far shows that the digital commerce sector has become indispensable and very resilient. Additionally, the online services industry, such as e-tourism, events, and ticketing, experienced a steady recovery during 2021.

Ecommerce Europe’s officials stated that in 2020 and 2021, retailers have gained a lot of experience in digitalisation. This acceleration was significantly pushed by the pandemic, during which ecommerce and retail played an essential role. These developments are reflected in this report. In 2022, Europe has, unfortunately, become the stage of a major conflict. Though still difficult to evaluate, the war in Ukraine will have major consequences on the European economy, as well as on ecommerce markets. Many of their members have already reported declines in consumer purchasing power and confidence, mostly due to high energy prices, inflation, and uncertainty about the future.

In addition, EuroCommerce’s representatives stated that the retail and wholesale sector is transforming significantly to become more digital, more sustainable, and to attract new talent. We estimate that businesses will have to double their investment up to 2030 to successfully achieve that transformation. Having a digital presence is becoming a matter of survival for many companies. Their customers expect them to deliver a seamless experience, offering various combinations of online and offline interactions. Supporting SMEs’ digitalisation will require dedicated support, technical advice and building awareness of the various tools to facilitate an online presence.

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Keywords: ecommerce, report, digitalisation, Russia Ukraine War, COVID-19
Categories: Payments & Commerce
Companies: Ecommerce Europe, EuroCommerce
Countries: Europe
This article is part of category

Payments & Commerce

Ecommerce Europe



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