E-commerce in the EU will grow by 14%
Posted: Mon Jan 27, 2025 5:39 am
According to a new report from industry association E-commerce Europe, the European Union’s e-commerce industry is forecast to be worth €602 billion ($685 billion) by the end of 2021. This would translate into 14% year-on-year growth. According to the National Retail Federation, e-commerce growth in the European Union is projected to be higher than that in the United States, where the e-commerce sector is forecast to grow by 8-12%.
3 factors driving the growth of e-commerce in the European Union
-Some newer members of the European Union in Eastern and Central Europe are seeing rapid e-commerce growth that outpaces that of their mature neighbors in the West. Countries like Poland, Romania, and Ukraine have seen e-commerce growth of over 25% in the past 12 months.
-The impact of the European Union's Single Market Strategy has brazil telegram screening been significant. This aims to remove barriers to online trade within the EU. The European Union is trying to implement a digital version of its single free trade market, which should promote and increase the amount of cross-border e-commerce in the EU by ensuring that customers are not discriminated against in different parts of the union.
-E-commerce is big among younger European consumers. More than two-thirds of those young people in the EU aged between 16 and 24 frequently shop online, while in the 55-77 age group, only one-third do so. These figures point to further growth in the future, which can only be a good thing for e-commerce in the EU.
Potential issues
However, there are still some issues that remain that are holding back the growth of European e-commerce from reaching its full potential. In the report, E-commerce Europe said that issues such as delivery speed, damaged goods and technical problems still need to be addressed to help e-commerce grow further across the European Union.
3 factors driving the growth of e-commerce in the European Union
-Some newer members of the European Union in Eastern and Central Europe are seeing rapid e-commerce growth that outpaces that of their mature neighbors in the West. Countries like Poland, Romania, and Ukraine have seen e-commerce growth of over 25% in the past 12 months.
-The impact of the European Union's Single Market Strategy has brazil telegram screening been significant. This aims to remove barriers to online trade within the EU. The European Union is trying to implement a digital version of its single free trade market, which should promote and increase the amount of cross-border e-commerce in the EU by ensuring that customers are not discriminated against in different parts of the union.
-E-commerce is big among younger European consumers. More than two-thirds of those young people in the EU aged between 16 and 24 frequently shop online, while in the 55-77 age group, only one-third do so. These figures point to further growth in the future, which can only be a good thing for e-commerce in the EU.
Potential issues
However, there are still some issues that remain that are holding back the growth of European e-commerce from reaching its full potential. In the report, E-commerce Europe said that issues such as delivery speed, damaged goods and technical problems still need to be addressed to help e-commerce grow further across the European Union.