Europe’s 72% online spends generated from its six biggest e-commerce markets

We know that people love e-commerce all over the world because of the fact that it is very convenient compared to in-store shopping and it is seen that soon, the people who shop in stores will be only those who want to enjoy the shopping experience as the same things which are available offline can be bought online as well. Because it was seen that people who shopped offline had the idea that things will be cheaper if bought from retail stores rather than e-commerce. But that trend is also being demolished now as most items tend to be cheaper online rather than offline. The reason being that offline stores tend to add operational costs to items whereas e-commerce stores only need to add shipping costs and have deep discounting tactics as well.

Talking about e-commerce in Europe, we have a new survey which reveals that 72% of the e-commerce spends in Europe’s markets have come from six of its biggest e-commerce markets such as the UK, Netherlands, Italy, Spain and others. As per the report, “the ecommerce markets in the United Kingdom, Germany, France, Italy, Spain and the Netherlands generate the majority of online spending on the continent (72 percent). There are large differences between these six markets. The United Kingdom and Germany are the largest markets, both having a share of 28 percent on the total European ecommerce spend in 2022. The other four markets account for a quarter of spending”.

This report, which notes the pre-pandemic trend, has observed that “German ecommerce market would have a penetration rate of 15 percent by the end of 2022. The actual figure came to 17 percent. On the other hand, the market in the Netherlands is back to its pre-pandemic trend. It saw no additional growth as a result of the pandemic”. The report also noted that “E-commerce spending in Italy and Spain makes up 11% of the total European online spend”. Also, it is worth noting that the UK e-commerce markets grew above the pre-pandemic trend as if the same growth rate before 2019 would have continued then “UK’s e-commerce penetration would now stand at 25 percent at the end of 2022. However, the actual figure is 27 percent”.

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