The full impact of the virus will be visible in 2021
Report reveals expected worth of European e-commerce this year. Source:?shutterstock.com
According to Ecommerce News, European e-commerce is expected to be worth 717 billion euros at the end of 2020 which is 12.7% compared to 2019.
The report shows that Western Europe is still the most developed e-commerce market in Europe. This region accounts for 70% of the total e-commerce value in Europe. Western Europe also has the highest share of online shoppers accounting for 83%.
Although, the biggest growth can be found in the eastern part of Europe. The e-commerce markets in Romania and Bulgaria both increased by 30% in 2019, which is the highest growth number in all of Europe.
The lowest growth can be found in Belgium and Ireland (7%), Austria (4%), and Iceland (3%).
We’ve reported that e-commerce in Spain is expected to grow by 18.5% at an annual rate in 2020, compared to the previous estimate of 13.1%
SEE ALSO:
Pay Space
Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.
