BRUSSELS | The Eastern European eCommerce market, including the online markets of Russia, Ukraine and Romania, show the strongest growth rate in Europe. With almost 36% growth for the Eastern region in 2012 it outperforms the Southern, Northern and Central European region, latest report by Ecommerce Europe reveals. For 2012 the Eastern ecommerce markets generated a total online sales of 13.1 billion euro.
Room for Growth
In comparison, the Dutch ecommerce market alone accounted for almost 10 billion euro in 2012. So there is definitely room for growth, especially considering the number of inhabitants for the individual countries. Russia has 142 million and ranks #1 in Europe in terms of people, followed by Germany (81 million) and Turkey (80 million). The projected online turnover of €19.3 bn for 2013 also indicates that there is a lot of ground to gain in the region. Only 27 of 106 million internet users are using the internet for shopping.
The Eastern Ecommerce Region
The report defines the region as consisting of Russia, Ukraine, Romania, Bulgaria, Albania, Moldova, Belarus, Bosnia & Herzegovina, Montenegro, FYR Macedonia and Serbia. An in-depth analysis is offered on the three largest markets of this region: Russia, Ukraine and Romania, respectively boasting an e-commerce turnover of €10.3 bn, €1.2 bn and €0.8 bn. The 27 million e-shoppers of the Eastern European region generate a total turnover of €13.1 bn. The region‘s share in Europe’s total e-commerce turnover in 2012 is 7%.
Russian Ecommerce Market is Sleeping Giant
Often referred to as the “sleeping giant”, Russia already stands out above the other countries of the region. The largest single market in Europe boasts the largest online population with 68 million internet users and 20 million online shoppers, generating a lion’s share of 78.5% of the regions total e-commerce market. Ukraine ranks second with total sales of €1.25 bn, followed by Romania with an online turnover of €0.8 bn. Russians spent on average €515,- on the internet in 2012, whereas Ukrainians spent €510,- and Romanians €400,-.
Ecommerce Market Potential
“There is a lot of potential in the Eastern European e-commerce market. First of all, only 27 million of 162 million inhabitants are shopping online - a percentage bound to increase once internet penetration is picking up pace. As demand will rise across this region, logistic services will improve, enabling retailers to serve also the less urbanized areas. Especially in a country like Russia this opens up a market of millions of new customers”, says Wijnand Jongen, Chair Statistical Board Ecommerce Europe.
Please download your abstract of the report: The Eastern Ecommerce Market Performance 2012
About Ecommerce Europe
Ecommerce Europe is the association representing 4,000+ companies selling products and/or services online to consumers in Europe. Founded by leading national e-commerce associations, its mission is to advance the interests and influence of e-commerce in Europe through advocacy, communication and networking.
Sourced from Ecommerce Europe, February 5th, 2014