At the end of 2020, the e-commerce in Europe is expected to be worth €717 billion, according to RetailX. This ultimately means an increase of 12.7% compared to last year. However, this growth is somewhat lower than the 14.2% increase of the European e-commerce in 2019.
The COVID-19 outbreak could have led to a run on online shopping across Europe. However, the full impact of the virus will probably be visible next year.
The Europe 2020: E-commerce Region Report shows that Western Europe still remains the most developed e-commerce market in Europe. Western Europe accounts for 70% of the total e-commerce value in Europe. In addition, this region also has the highest share of online shoppers (83%).
Parts in Eastern Europe experienced the biggest growth. Both of the e-commerce markets in Romania and Bulgaria increased with 30% last year. This is the highest growth number in all of Europe. However, these countries currently have the lowest share of online shoppers (31% and 29%).
Spain also experienced a big growth within the e-commerce market with a 29% increase last year. The lowest growth can be found in Belgium and Ireland, with an increase of 7%, Austria (4%) and Iceland (3%).
Currently, the United Kingdom has the highest share of online shoppers (94%). Other countries within this list are Denmark (86%), Germany (84%), the Netherlands (84%) and Sweden (84%).
In the Netherlands, consumers prefer to shop at domestic websites (95%). This trend is also noticeable in Poland, where 94% prefer to shop at domestic websites. However, in the smaller countries, such as Malta (96%) and Cyprus (95%), online shoppers mostly shop at foreign e-commerce websites.
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