🚀 The European E-Commerce Landscape in 2024: Key Insights & Trends (Part 1) 📊
Here
are a few things we learned from our 2024 European E-Commerce Report.
Let's delve into the trends, challenges, and opportunities shaping the
future of e-commerce.
📈 Nominal Growth & Emerging Markets:
Total European B2C e-commerce turnover grew by 3% in 2023, reaching €887 billion.
Southern & Eastern Europe are leading with impressive growth rates of 14% and 15%, respectively, while Western Europe saw a slight decline.
Ukraine led the charge with a massive 145% growth in turnover, followed by Bulgaria (19%) and Poland (17%).
Total European B2C e-commerce turnover grew by 3% in 2023, reaching €887 billion.
Southern & Eastern Europe are leading with impressive growth rates of 14% and 15%, respectively, while Western Europe saw a slight decline.
Ukraine led the charge with a massive 145% growth in turnover, followed by Bulgaria (19%) and Poland (17%).
💸 The Impact of Inflation:
Despite a decrease in inflation (from 8.5% in 2022 to 6.1% in 2023), inflation caused a real decline in turnover. However, Eastern & Southern Europe exhibited resilience, showing positive growth when adjusted for inflation.
For 2024, a more typical inflation rate of 2.7% is expected, with 5% growth forecasted for the e-commerce sector after inflation adjustments.
Despite a decrease in inflation (from 8.5% in 2022 to 6.1% in 2023), inflation caused a real decline in turnover. However, Eastern & Southern Europe exhibited resilience, showing positive growth when adjusted for inflation.
For 2024, a more typical inflation rate of 2.7% is expected, with 5% growth forecasted for the e-commerce sector after inflation adjustments.
📖 Find more insights in our latest European E-Commerce Report 2024: https://lnkd.in/eEcY_hk6
Stay tuned for more updates throughout the week!
Stay tuned for more updates throughout the week!
hashtag#Ecommerce hashtag#Europe hashtag#GrowthTrends hashtag#DigitalInclusion hashtag#Technology hashtag#InflationImpact hashtag#OnlineShopping hashtag#EuroCommerce hashtag#Retail hashtag#Wholesale
🚀 The European E-Commerce Landscape in 2024: Key Insights & Trends (Part 2) 📊
After exploring growth trends and emerging markets in Part 1, here are more insights into the evolving dynamics of the e-commerce landscape.
🌍 Internet Penetration:
Internet penetration in Europe rose to 92%, with Northern Europe leading at 97%. Central & Southern Europe saw improvements, while Eastern Europe still lags behind with 83%.
By 2024, penetration is expected to reach 93%, nearing near-total access for individuals aged 16-74 across Europe.
📱 Technology Driving Growth:
AI, AR/VR, and 5G are transforming e-commerce, improving personalisation, inventory management, and customer service.
Mobile payments and digital wallets are reshaping transactions, with services like Bizum in Spain and BLIK in Poland leading the way.
For more information check our E-Commerce report: https://lnkd.in/eEcY_hk6
hashtag#retail hashtag#eurocommerce hashtag#wholesale hashtag#ecommerce
After exploring growth trends and emerging markets in Part 1, here are more insights into the evolving dynamics of the e-commerce landscape.
🌍 Internet Penetration:
Internet penetration in Europe rose to 92%, with Northern Europe leading at 97%. Central & Southern Europe saw improvements, while Eastern Europe still lags behind with 83%.
By 2024, penetration is expected to reach 93%, nearing near-total access for individuals aged 16-74 across Europe.
📱 Technology Driving Growth:
AI, AR/VR, and 5G are transforming e-commerce, improving personalisation, inventory management, and customer service.
Mobile payments and digital wallets are reshaping transactions, with services like Bizum in Spain and BLIK in Poland leading the way.
For more information check our E-Commerce report: https://lnkd.in/eEcY_hk6
hashtag#retail hashtag#eurocommerce hashtag#wholesale hashtag#ecommerce
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