The pandemic significantly changed buyers’ behavior in many countries. Many people started buying items online to avoid potential infection danger, and delivery services prevented unnecessary risk standing in the crowds in shops and stores.
The European eCommerce sector was growing even before the pandemic. For example, according to the Statista survey, in 2018, the revenue increased by $24,8 billion compared to the previous year and reached $320,6 billion. In 2019 the growth was $33,6, with the year’s total revenue $354,1 billion.
2020 was the year when everything changed, so it’s no wonder that the revenue growth was overwhelming - $71 billion year-over-year with an overall year’s total of $425.2 billion.
So far, the tendency is the same. Revenue keeps growing, and according to the data published by Finaria, this year’s total revenue is going to reach a whopping $570 billion.
The sales numbers in different segments are expected to be as follows:
- $143,5 billion in fashion;
- $103,5 billion in electronics and media;
- $68 billion in furniture and appliances;
- $63 billion in food and personal care.
The overall number of buyers is going to reach 506 million, covering almost 60% of the population. The average revenue per customer is expected to reach $918. If the growth continues, the numbers are going to reach around 570 million customers and about $1000 per buyer by 2025.
The largest markets in Europe are the United Kingdom with expected revenue of around $104 billion, Germany ($95 billion), France ($58 billion), and Spain ($23 billion).