Last week, the European E-Commerce Report 2023, compiled by Ecommerce Europe and EuroCommerce, was released. According to Mr. Luca Cassetti, Secretary-General of European E-Commerce, the data in the report are based on the information collected in 2022. The persistence of COVID-19 pandemic, inflation, Russia-Ukraine war and other factors have all affected the data in the report.
The expert analyzed the Internet penetration rate in Europe and the growth of online shoppers. He talked about the products and services that are most consumed online: “Some products that are most consumed online are books, food distribution and cosmetics. Product categories related to mobility, cleaning and personal hygiene are not very popular in online shopping throughout Europe. ” In terms of services, the media service subscription is the most purchased through online channels, followed by the purchase of event tickets and transportation services.
Experts also said that the trend in Europe is mainly to buy products from domestic sellers. In 2021, 84% of the respondents bought products from domestic sellers, and in 2022, this figure dropped slightly to 81%.
In 2022, the total transaction volume in Europe reached nearly 900 billion euros, an increase of 6% over last year. Considering that the inflation rate in most European countries is as high as 10% or even 14%, 2022 is unusual. Nevertheless, considering inflation and rising prices, the actual growth rate of e-commerce has declined slightly. However, it is expected to continue to maintain positive growth in the next few years, which shows that the e-commerce market in many European countries has great potential.
In terms of e-commerce sales, Germany ranks first, with most sales coming from the Nordic market, followed by the southern European markets, such as Spain and Italy. In contrast, the share of e-commerce in Eastern Europe is low, with a total turnover of only 14 billion euros. In addition, this study draws an important conclusion, that is, consumers become more sensitive to price and tend to buy their own brand products.
Post time: Oct-11-2023