Estonia E-commerce Market Size

Estonia E-Commerce Market Analysis

The Estonia E-commerce Market size is estimated at USD 0.77 billion in 2024, and is expected to reach USD 1.20 billion by 2029, growing at a CAGR of 9.37% during the forecast period (2024-2029).

E-commerce emerged as a prominent consumer choice to purchase goods during the last decade. The rising internet penetration, growing access to the internet across the populations in developing economies, increasing smartphone penetration, advancements in technology, and rapid urbanization created a massive opportunity for the e-commerce market.

• The e-commerce sector is taking advantage of opportunities across a variety of landscapes, driven by young demographic profiles, rising internet usage, and generally better economic performance in recent years.
• The consumer electronics, personal care, and fashion and apparel sectors are principally responsible for the market's expansion. There is potential for developing prospects thanks to significant expenditures in the consumer electronics, personal care, and fashion and clothing industries.
• One of the biggest trends in online retail is platform convergence. Customers prefer an all-in-one shopping experience that includes product ratings and prices, buying, and making payments using the platforms' new online payment options. Consequently, online shopping features are available on portal websites, social media, TV home shopping, over-the-top media services (OTT), etc. As a result, their platforms are becoming more popular.
• E-commerce enterprises generally store customers' bank accounts and credit card information. Email addresses, mailing addresses, usernames, and passwords are usually held by e-commerce enterprises, subjecting them to cybersecurity attacks. Cybercriminals profit from this information by duplicating credit cards and utilizing users' personal information for identity theft and fraud. Hackers may potentially hold sensitive data hostage for ransom.
• Furthermore, the supply chain of the e-commerce market was largely disrupted due to the COVID-19 pandemic. Despite creating new opportunities for growth in terms of non-cash payments that could be realized during the forecast period, the COVID-19 pandemic slowed operations in merchant categories, like restaurants, grocery stores, apparel stores, and jewelry stores, which predominantly use online payments. This further created an overall positive impact on the studied market.