By Direct Link - When pandemic lockdowns were lifted in 2021 and people could return to physical stores, restaurants, and so on, it quickly resulted in a temporary decline in e-commerce spending. Now we also have a war in Europe which affects a lot of people´s living expenses.
So, what can we expect from international e-commerce in the next few years? Well, studies show that despite these disturbances, the outlook seems pretty bright.
This is not the least because new e-commerce consumers are constantly arriving. From a global perspective, broadband subscriptions and connection speeds are continuously increasing.
Looking at the European market in general and the expected e-commerce growth in the coming years, we can see a steady projected increase.
A large part of the pandemic-driven transfer of money from brick-and-mortar to e-commerce that took place in 2020 and 2021, and went from online spending of 480 billion U.S. dollars in 2019 to 732 billion U.S. dollars in 2021, is expected to remain with e-commerce.
Another noteworthy thing fueling this development is the fact that internet penetration continues to increase in eastern Europe in particular.
Countries like Slovakia, Montenegro, Serbia, Czechia, Moldova, Slovenia, and others now have an internet user penetration rate of over 80%. This will further increase the opportunities for e-tailers who dare to seek out new dynamic markets.
The forecasted turnover for European e-commerce for 2023 is 940 billion U.S. dollars, an increase of 112 billion U.S. dollars compared with 2022.
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