According to the latest data, the total revenue of the European e-commerce market was $634 billion in 2022, and 2022 is one of the darkest years for e-commerce in Europe: After experiencing a booming golden period of pandemic e-commerce development, e-commerce revenue in Europe in 2022 declined by -7% from the 2021 total of $684 billion. Despite this, Europe is still the world’s third largest e-commerce market.
Currently, e-commerce has become an important economic sector in most countries in Europe, with around 523 million active e-commerce users by 2022, with an average of 62% of consumers using online shopping channels. While major European economies such as Norway, the United Kingdom, Germany, or the Netherlands have reached more than 80 percent e-commerce penetration, the smaller economies in the south and east, such as Greece, Portugal, or Poland, still have a lot of potential to tap.
The trend of e-commerce in Europe is expected to rise sharply again: by 2023, it is expected to grow by nearly 30% year-on-year. By 2026, it is expected to grow further, and the total e-commerce market will exceed $1.1 trillion by 2026. This development corresponds to a compound annual growth rate of 12% from 2022 to 2026.
Post time: Jun-08-2023