News • 28.04.2021

European eCommerce revenue to hit a 30% jump amid pandemic

Fashion, electronics, and media to generate half the revenues in 2021

keyboard with key for e-commerce
Source: Panthermedia/tashatuvango

The COVID-19-led boom in online sales has caused an impressive growth of the European eCommerce market, both in terms of revenue and the number of users. As millions of people continue switching from brick-and-mortar shops to webshops, Europe's eCommerce revenue is set to reach a new record.

According to data presented by Finaria.it, the revenue of the European eCommerce market is expected to hit $465bn this year, 30% more than before the pandemic struck.

Even before the pandemic, the European eCommerce market has witnessed impressive growth. In 2018, revenues grew by $24.8bn YoY (year-over-year) and hit $320.6bn, revealed the Statista survey. By the end of the following year, this figure jumped by another $33.6bn reaching $354.1bn.

However, 2020 saw the biggest revenue growth so far, as millions of consumers turned to online shopping amid the COVID-19 lockdown. Statistics show that European eCommerce revenues hit $425.2bn last year, an $71bn increase YoY.

The strong upward trend is expected to continue in 2021, with the entire market growing by another 9.5% YoY. By 2025, Europe's eCommerce segment is forecast to reach almost $570bn value.

As the market's largest segment, fashion is forecast to hit a market volume of $143.5bn in 2021, or 32% more than before the pandemic. By 2025, this figure is expected to hit $176.5bn.

The electronics and media segment is expected to generate $103.5bn in revenue this year, up from $95.5bn in 2019. Furniture and appliances and food and personal care follow with $68bn and $63.6bn, respectively.

The Statista survey also revealed the average revenue per user is expected to hit $918 this year, up from $777.4 in 2019. In the next four years, this figure is set to reach almost $1,000.

More than half a billion Europeans to shop online this year

In 2017, almost 395 million Europeans were shopping online. In the next twelve months, the number of eCommerce users rose to 424.5 million.

Statistics show that 2019 witnessed the most impressive year-over-year growth, with the number of online shoppers in Europe rising by 31 million YoY and reaching 455.5 million.

The strong upward trend continued in 2020, with the number of eCommerce users growing by another 25 million. Statistics show the number of Europeans shopping online is set to reach 506 million this year, with a user penetration of almost 60%. By 2025, this figure is forecast to hit nearly 570 million.

As the largest European eCommerce market, the United Kingdom is expected to generate close to $104bn in revenue in 2021, a 7% increase in a year.

Germany, the second-largest eCommerce market in Europe, is set to reach $95bn value this year, up from $87.6bn in 2020. France and Spain follow with $58.9bn and $23.8bn in eCommerce revenues, respectively.

Source: Finaria.it

related articles:

popular articles:

Thumbnail-Photo: Theyre just not that into you
05.02.2021   #customer relationship management #marketing

They're just not that into you

Consumer-brand relationship insights for marketers and brand communication

Researchers from Western University, Indiana University, and Washington State University published a new paper in the Journal of Marketing that deals with communication strategies towards consumers that have a certain connection to a brand.The ...

Thumbnail-Photo: Shopping in social media streams?
16.11.2020   #e-commerce #app

Shopping in social media streams?

Further steps towards social commerce

The fact that retailers and brands offer their products online where consumers spend their free time – on social media channels as well as on image and video portals – is nothing new. There have been many advertising campaigns on these ...

Thumbnail-Photo: Fashion out of waste
04.12.2020   #sustainability #fashion

Fashion out of waste

H&M collection for upcycling

H&M Conscious Exclusive A/W20 collection introduces exquisite pieces crafted from sustainably sourced materials made from waste. What is normally thrown away is purposefully transformed into treasures to be loved and valued, allowing us to ...

Thumbnail-Photo: Will people soon be shopping at the Club?
22.02.2021   #digital marketing #app

Will people soon be shopping at the "Club"?

Marketing opportunities of the new social media app Clubhouse.

WhatsApp, TikTok, Instagram, Snapchat - many retailers use the platforms to get their products to customers - that's nothing new. Recently, users have been able to meet in the "Clubhouse." Marcel Hollerbach, CMO of Productsup, talks ...

Thumbnail-Photo: Retail industry lags behind in customer experience strategy...
03.03.2021   #customer satisfaction #digitization

Retail industry lags behind in customer experience strategy

Lack of data and analytics hinders successful customer experience delivery

NTT Ltd. announced its Retail Guide to the Global Customer Experience Benchmarking Report which shows that the retail sector is particularly lagging behind in customer experience (CX) compared with the all industry benchmark. However, retailers ...

Thumbnail-Photo: The car’s the star
19.01.2021   #food retail #self service

The car’s the star

GB’s drive-thru grows in popularity

The trend for ordering food and drinks from our cars at Britain’s growing number of drive-thru restaurants soared from September to November 2020 according to global information company The NPD Group. There were 121 million visits to ...

Thumbnail-Photo: The most inspired Christmas commercials 2020...
17.12.2020   #digital marketing #sales promotion

The most inspired Christmas commercials 2020

Messages for the holidays

The year 2020 was an odd one, a difficult one for many, and the holidays are no different. How are retailers reacting to that in their Christmas commercials and what messages do they send out for the holidays? Here is an international selection from ...

Thumbnail-Photo: Three ways to make better use of mobile marketing...
08.03.2021   #online trading #e-commerce

Three ways to make better use of mobile marketing

Social media, mobile optimization, QR codes – practical rips for retailers

The pandemic has rapidly changed the way consumers interact with brands, with digital platforms becoming the sole way for browsing and purchasing goods and services in almost all sectors. This has resulted in a tremendous rise in the use of mobile, ...

Thumbnail-Photo: Stats and trends for 2020 holiday customer service strategies...
12.01.2021   #online trading #e-commerce

Stats and trends for 2020 holiday customer service strategies

Higher sales with self-service materials and chat

ResultsCX announced findings from its recent holiday shopping and customer service survey, taking the pulse of organizations and how they’re handling a variety of customer service offerings this holiday season.The National Retail Federation ...

Thumbnail-Photo: First South Asian local food and grocery marketplace in U.S....
27.11.2020   #online platform #online food retailing

First South Asian local food and grocery marketplace in U.S.

Based in Chicago, Quicklly expands to San Francisco Bay Area

Quicklly, the first and only South Asian local food and grocery marketplace in the US, announced its first expansion city – the San Francisco Bay Area. Customers throughout the city of San Francisco extending south through to San Mateo have ...

Supplier

Navori Labs
Navori Labs
Rue du lion d'or 4
1003 Lausanne
iXtenso - Magazin für den Einzelhandel
iXtenso - Magazin für den Einzelhandel
Celsiusstraße 43
53125 Bonn
EuroShop
EuroShop
Stockumer Kirchstraße 61
40474 Düsseldorf
Seven Senders GmbH
Schwedter Straße 36 A
10435 Berlin