The eCommerce market in Europe is growing strongly and is expected to grow its revenue by 17% per year between 2019 and 2025. As the European market evolves, new trends emerge and market structures change. In a report of ecommerceDB we have been able to know what the behavior of consumers is.
Not only will revenue grow in Europe, but the number of users will grow by 12% and will reach 564 million consumers in 2025. However, it will be the continent where the least growth of online consumers is expected. Asia is the winner with a 32% growth up to 3.1 billion users.
Which country will have the highest online growth in Europe?
As we have seen, users will grow in Europe, but which country will grow the most? Turkey. The country is expected to have an annual growth rate of 14.59% between 2020 and 2025. It is also the first country in the world.
While the last country on the list is Denmark, with almost negative growth.
Ecommerce in Turkey
In 2020, e-commerce sales in Turkey increased by 66% over the previous year, reaching 24.5 billion dollars (according to data from the Turkish Ministry of Commerce). The number of companies conducting e-commerce business in Turkey also increased by 275% to 256,861 in 2020, and the number of orders increased by 68%.
The most recent data is the growth rate achieved in the first half of 2021, which was 75.6% compared to the same period of the previous year.
Ecommerce Denmark
Denmark is the 29th largest market for e-commerce, with revenue of $6 billion in 2020. During that same year, 79% of Danes bought something through the online channel. The largest e-commerce markets are travel, apparel, media and entertainment, footwear and lifestyle, and information technology.
How are European consumers?
Although Europe is made up of 50 countries, online consumers share several characteristics. For example, buyers in the United Kingdom, Germany, France, Italy and Spain they have a similar distribution in terms of gender and income. However, they have other very different characteristics. In the case of Spain and Italy, they stand out for having the age group between 35-44 with the highest online consumption (also know what Spanish consumers are like).
As for the categories preferred by European consumers we find:
- Clothing
- Shoes
- Electronics.
Europeans are clear that the best way to succeed in online purchases is to research the product and read the comments. They also agree on the device with which to make purchases: the mobile. The highest rate is for the Italians with 67%, but they are closely followed by the Spanish with 65% and the English with 64%.
On the other hand, the country with the highest eCommerce penetration in 2021 is the United Kingdom, with 81%. Norway follows with 79% and Germany is in third place with 77%.