Market Size of Europe E-commerce Industry
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 647.34 Billion |
| Market Size (2029) | USD 951.16 Billion |
| CAGR (2024 - 2029) | 8.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Europe E-commerce Market Analysis
The Europe E-commerce Market size is estimated at USD 647.34 billion in 2024, and is expected to reach USD 951.16 billion by 2029, growing at a CAGR of 8% during the forecast period (2024-2029).
E-commerce is now redefining commercial activities worldwide, including in Europe. With the help of the internet, people can buy and sell any item, like books, electronics, apparel, software, furniture, etc., from anywhere.
- Previously, buying and selling goods required an active and physical interaction between the buyer and the seller. However, currently, brick-and-mortar commerce is quickly being replaced by eCommerce. Most brick-and-mortar stores are transforming into eCommerce stores, thus requiring establishing an online presence and moving core business operations online.
- Furthermore, European e-commerce experienced significant growth in B2C turnover in recent years, despite some countries reporting lower e-commerce sales due to the lessening of COVID-19 pandemic measures. Also, Eastern Europe has experienced higher growth rates in B2C e-commerce sales than many Western European countries. However, Western Europe still holds the largest share of total turnover at 63% compared to Eastern Europe's 2% (as of 2021), per the European E-commerce report 2022.
- However, the EU is home to diverse and intricate digital markets. Although the share of the population accessing the internet and shopping online continues to grow, SMEs selling online continue to lag in their use of digital tools.
- The COVID-19 outbreak significantly impacted European countries such as Spain, Italy, Germany, France, the United Kingdom, Turkey, and Switzerland. Despite the nationwide lockdown, online sales had shown a positive response. The European government closed most brick and mortar retail stores as a precautionary measure as part of a series of lockdown plans to contain the spread of COVID-19. As a result, there is a high demand for online shopping for essential and non-essential products such as groceries, clothing, and accessories.
