This age of online activities has popularized the e-commerce industry in Europe unconditionally. Customers today opt for online shopping options, thereby expanding the shares of the online markets.
Fremont, CA: The world is indulging more in the digital realm day by day. The significant expansion of the digital community is one big reason for the growing popularity of e-commerce today. In Europe, the e-commerce industry comprises several established online retail markets, as well as a few innovative startups.
For sketching the e-commerce landscape of Europe, this post will give an overview of the following aspects related to the industry.
The e-commerce customers
Recent surveys infer that in April, May, and June, this year, about 32 percent of consumers from Europe have shopped once or twice, on the online platforms. About 17 percent of the shoppers availed online stores for 6 to 10 times in the last three months.
The payment methods, concerning the e-commerce business, also have a definite pattern. Credit cards are one of the most used payment methods in the UK, followed by debit cards and PayPal. French customers prefer MasterCard, American Express, Carte Blue, and PayPal, while Germans prefer invoices.
For a very long time, countries like UK, France, Germany, Spain, and a few others in the row, have created maximum demand and popularity in the category for clothing and footwear, followed by books, home electronics, and skincare and makeup products. Studies predict that e-commerce sales can rise to €717 billion in this decade. Western Europe generates the maximum share of the turnover of around 70 percent, while Eastern Europe generates the least with 1 percent. The variation in online retail makes the UK, Germany, and France, the biggest hubs of online shopping.
The prominent online stores
Some of the influential American retailers like Amazon and Apple have overcrowded the European market. However, these are not the only retailers listed in the top 10 of European online stores. Retailers like Otto and Zalando of Germany, Tesco, John Lewis, and Home Retail Group of UK, Groupe Casino of France, and other European retailers find mention among the most prominent online stores in Europe.
Today, the pandemic has significantly changed the dynamics of these businesses. The e-commerce space has undergone a notable metamorphosis, both in the contemporary startups as well as the traditional firms. The increased convenience of the customers has raised their shopping experiences, and this factor may serve perennially as the steering force for e-commerce across the globe.
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