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: Hot on the trail of the newest trends
04.06.2021   #e-commerce #customer satisfaction

Hot on the trail of the newest trends

OTTO uses a new in-house tool for trend research

Together with Google, the online retailer OTTO has developed a dashboard that helps identify "whitespots" - missing brands and products. The tool called MANGO builds on Google's Merchant Analytics Center and, in addition to its own ...

Thumbnail-Photo: Retail as powerful stream of revenue
22.07.2021   #online trading #e-commerce

Retail as powerful stream of revenue

Influential media organizations to partner with retailers

The COVID-19 pandemic has created synergistic opportunities for media and retail companies, as consumers find themselves spending more time online. Large online media and entertainment organizations are now partnering with retailers to provide ...

Thumbnail-Photo: Magical shopping experience
10.06.2021   #customer satisfaction #app

Magical shopping experience

Finally Harry Potter fans can visit the official Harry Potter flagship store New York City

Harry Potter New York will set a new standard for themed retail, combining breath-taking design, exquisite craftsmanship, hand-crafted props, exciting interactive elements and exclusive products - inviting fans to experience the Wizarding World in a ...

Thumbnail-Photo: Transformation of supply chain network
23.07.2021   #logistics (software) #supply chain management

Transformation of supply chain network

Kroger and KNAPP expand the Great Lakes Distribution Center

The Kroger Co. and KNAPP, provider of intelligent automation and specialized software solutions, announced their agreement to deploy, expand, and enhance the capabilities and capacity of the retailer's existing Great Lakes Distribution Center in ...

Thumbnail-Photo: E-commerce advertising industry benchmarks for 2021...
27.04.2021   #online trading #e-commerce

E-commerce advertising industry benchmarks for 2021

Sidecar report: Advertising benchmarks for Google, Facebook, Instagram, and Amazon

The global pandemic led to sweeping improvements in return on ad spend and reductions in cost per acquisition across primary ad platforms in 2020. That’s according to Sidecar’s 2021 Benchmarks Report, the company’s new retail ...

Thumbnail-Photo: Benefits of investing in physical stores
28.06.2021   #e-commerce #brick and mortar retail

Benefits of investing in physical stores

The role of physical stores for selling "deep" products

Researchers from Colorado State University, Amazon, and Dartmouth College published a new paper in the Journal of Marketing that examines the role of physical stores for selling "deep" products.The study, forthcoming in the Journal of ...

Thumbnail-Photo: Digital signage creates more time for customers at 3...
20.06.2021   #customer satisfaction #digital signage

Digital signage creates more time for customers at 3

Telecommunication company 3 relies on electronic price tags

The staff members in the telecommunications company 3's stores do not have to worry about updating product information or prices, as all the stores have installed electronic price tags from the IT company Delfi Technologies. The stores can ...

Thumbnail-Photo: Shopping experience with interactive digital signage applications...
25.05.2021   #digital signage #brick and mortar retail

Shopping experience with interactive digital signage applications

Using lift & learn features and smart mirrors to activate customers

The advantage in traditional stores: customers can examine the items and pick them up. The advantage in e-commerce: There is a wide range of products and information. With the use of digital signage solutions, these two advantages can be ...

Thumbnail-Photo: More than just a technical gimmick: augmented reality in retail...
05.05.2021   #e-commerce #brick and mortar retail

More than just a technical gimmick: augmented reality in retail

How to bring your retail space to your customer's home

When the shop doors have to remain closed due to pandemic regulations and customers switch to online offerings, the digital shopping experience from smart devices should be made as eventful as possible. This is where the use of artificial ...

Thumbnail-Photo: Development of Hainan global smart supply chain pilot zone...
21.06.2021   #retail #logistic solutions

Development of Hainan global smart supply chain pilot zone

Cainiao will be supporting Hainan’s logistics infrastructure development to attract over 1,000 duty-free merchants to the island

Cainiao Smart Logistics Network (“Cainiao”), the logistics arm of Alibaba Group Holding Limited, announced at its annual Global Smart Logistics Summit 2021 that it has entered a strategic partnership with the Hainan government to support ...

Supplier

Delfi Technologies GmbH
Delfi Technologies GmbH
Landgraben 75
24232 Schönkirchen
Navori Labs
Navori Labs
Rue du lion d'or 4
1003 Lausanne