Greece E-commerce Market - Growth, Trends, COVID-19 Impact, and Forecast (2022-2027)

The Greece E-commerce Market is segmented by B2C E-commerce (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverage, Furniture and Home), and B2B E-commerce.

Market Snapshot

Greece Ecommerce Market Size
Study Period: 2020-2027
Base Year: 2021
CAGR: 12.15 %

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Market Overview

The Greece E-commerce market is expected to register a CAGR above 12.15% during the forecast period, 2022-2027. The European e-commerce market has been expanding rapidly in recent years, providing exciting potential for online retailers in various industries. Greece is one of Europe's most important retail marketplaces and an important e-commerce market. Regarding internet penetration, e-commerce customer proportion, and average expenditure, Greece's e-commerce market is slightly behind the European average.

  • In recent years, Greece's electronic commerce (e-commerce) has grown significantly, particularly during the current COVID-19 crisis, when the Greek government has made significant strides to modernize the country digitally. The Ministry of Digital Governance has modified its digital strategy, known as the "Digital Transformation Bible," first introduced in the pre-Covid era and is now planned to be developed between 2020 and 2025.
  • Implementing the unified government e-cloud platform is prioritized, assisting the marketplace's digital transformation. A One-Stop-Shop platform was built in 2019 to dramatically reduce the time to start a business. The Hellenic Development Bank has developed two funding initiatives to help SMEs with their digital development: "Business Innovation Greece" and "4th Industrial Revolution."
  • Greece's e-commerce sales have been steadily increasing and are expected to reach $539 million by 2020. Greece's e-commerce is lagging behind other EU member states despite this increase. Apart from the prolonged economic crisis, the key reason is that Greece has not reaped the benefits of ICT adoption and scores below the EU average on several of the European Digital Agenda's ICT indicators.
  • The COVID-19 crisis measures, according to the latest data supplied by the Greek Electronic Commerce Association (GR.EC.A), significantly enhanced the rising trend in online sales. Consumer expenditure grew 107 percent faster in May 2020 than in 2019. According to a Nielsen study, 22% of Greek shoppers made their first online supermarket purchase during the pandemic quarantine. Only 4% of shoppers would switch stores before COVID, but that number has risen to 26%. This trend is bolstered by investments announced by several significant firms interested in developing their online marketplaces.

Scope of the Report

E-commerce is the purchasing and selling of products and services over the Internet. It is conducted over computers, mobiles, tablets, and other smart devices. There are primarily two types of e-commerce, including Business-to-Consumer (B2C) and Business-to-Business (B2B).

The Greece E-commerce Market is segmented into B2C E-Commerce (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverage, Furniture and Home), and B2B E-commerce.

By B2C E-commerce
Market size (GMV) for the period of 2017-2027
Market Segmentation - by Application
Beauty & Personal Care
Consumer Electronics
Fashion & Apparel
Food & Beverage
Furniture & Home
Others (Toys, DIY, Media, etc.)
By B2B E-commerce
Market size for the period of 2017-2027

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Key Market Trends

Significant Growth in E-Commerce is Expected Due to the Outbreak of COVID-19

  • In Greece, only 4% of shoppers would switch stores before covid, but that number has risen to 26%. This trend is bolstered by investments announced by several significant firms interested in developing their online marketplaces. According to a recent study by the Hellenic Federation of Enterprises (SEV) Digital Transformation Observatory, a company with an online presence can generate up to 20% more sales than one without.
  • According to the Hellenic Statistical Authority's (ELSTAT) 2020 annual ICT report, e-commerce still has room to develop because only 47% of the population shops online. Fashion (31%), electronics & media (25%), food & personal care (19%), toys, hobby & DIY (16%), and toys, hobby & DIY (16%) account for the majority of eCommerce income in Greece.
  • The economic crisis still influences greek consumers' shopping patterns and trends. Compared to the European average, Greek customers research more than they buy online. The Greek consumer's mindset has shifted due to the COVID issue. More than 60% prefer online shopping to in-store buying, and 49% say they will continue shopping online even after the COVID situation stabilizes.
  • After searching online through search engines and price comparison services, Greek online buyers make more than 65 percent of their total physical purchases. This supports firms' significant investments in digital marketing to draw customers to their physical locations.
Greece Ecommerce Market Trends

Growth of B2C segment

  • Business-to-consumer (B2C) e-commerce in 2020 noted a 77% growth rate, making it the first in Europe. Domestic sources are preferred since 93.1 percent of internet shoppers use Greek e-shops, a 7.4% increase from 2019. Only one in ten consumers buy directly by clicking an ad, and 57% of consumers mentioned that they would be reluctant to purchase from a website that is not offered in their language., as reported by ITA, US.
  • The price is the first reason consumers choose where and what to purchase. Twenty-five percent of consumers mentioned that they do not buy across borders since shipping costs increase the final price of the item and 24% mentioned that they are concerned about fees required for customs clearance. Sellers who say shipping and customs costs when calculating the final price are more likely to attract online buyers, especially if they have new products not provided in the domestic market.
  • Top online shopping categories in 2020 were: clothing (including sports clothing), computers, tablets, mobile phones or their accessories (printers, cables, cases, headphones, etc.), computer software, or other devices, including their upgrades.
Greece E-commerce Market

Competitive Landscape

  • Many competitors are present in the Greece e-commerce business, leading to high competition. In the e-commerce business, many local and worldwide firms have expanded, resulting in fierce competition. Aside from eBay and others, certain retail companies, such as ACS, already have a robust physical presence and are preparing to enter the e-commerce industry, strengthening the overall competition. eBay, Geniki Taxydromiki, and ELTA are some of the essential participants in the Greece e-commerce business. E-shops with the higher sales in Greece include Kotsovolos, Zara, e-shop, plaisio, and e-Jumbo, with toys-shops being a fast-growing new entry and the Public mainly focusing on books but also building on creating a Greek marketplace for electronics and appliances.
  • Dec 2021: Skroutz is an e-commerce platform in Greece where small businesses can list their wares. Skroutz is used by the majority of consumers for market research, product identification, and pricing comparison. Skroutz's turnover climbed by 95.42 percent in 2020.

Recent Development

  • April 2022 - Heloo, a Croatian provider of outsourced specialized services, was bought by TaskUs. Heloo is a customer care provider for European technology companies, focusing on the e-commerce and gaming industries. TASK expands its European language capabilities, diversifies its client base, and helps scale its global operations by expanding into Eastern Europe. Cross-selling prospects with Heloo's clientele in Greece, Germany, Austria, Switzerland, Finland, and other countries will benefit TASK.
  • April 2022 - The Catalan operator joins forces with Cellnex Telecom, Lenovo, and to develop a solution to alter e-commerce in local stores by providing virtual shoppers with an immersive shopping experience.

Table of Contents


    1. 1.1 Study Assumptions and Market Definitions

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness-Porter's Five Forces Analysis

      1. 4.2.1 Bargaining Power of Suppliers

      2. 4.2.2 Bargaining Power of Buyers/Consumers

      3. 4.2.3 Threat of New Entrants

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Key market trends and share of E-commerce of total Retail sector

    4. 4.4 Impact of COVID-19 on the E-commerce sales


    1. 5.1 Market Drivers

      1. 5.1.1 Growing Demand from Apparel and Footwear Industry.

      2. 5.1.2 Penetration of Internet and Smartphone Usage

    2. 5.2 Market Challenges

      1. 5.2.1 Low Internet Penetration

    3. 5.3 Analysis of key demographic trends and patterns related to E-commerce industry in Greece (Coverage to include Population, Internet Penetration, E-commerce Penetration, Age & Income etc.)

    4. 5.4 Analysis of the key modes of transaction in the E-commerce industry in Greece (coverage to include prevalent modes of payment such as cash, card, bank transfer, wallets, etc.)

    5. 5.5 Analysis of cross-border E-commerce industry in Greece (Current market value of cross-border & key trends)

    6. 5.6 Current positioning of country Greece in the E-commerce industry in region Europe

  6. 6. Market Segmentation

    1. 6.1 By B2C E-commerce

      1. 6.1.1 Market size (GMV) for the period of 2017-2027

      2. 6.1.2 Market Segmentation - by Application

        1. Beauty & Personal Care

        2. Consumer Electronics

        3. Fashion & Apparel

        4. Food & Beverage

        5. Furniture & Home

        6. Others (Toys, DIY, Media, etc.)

    2. 6.2 By B2B E-commerce

      1. 6.2.1 Market size for the period of 2017-2027

  7. 7. Competitive Landscape

    1. 7.1 Company Profiles

      1. 7.1.1 eBay

      2. 7.1.2 Amazon

      3. 7.1.3 Zara

      4. 7.1.4 E-shop

      5. 7.1.5 Plasio

      6. 7.1.6 Aboutyou

      7. 7.1.7 MarksandSpencer

      8. 7.1.8 Shein

      9. 7.1.9 Kotsovolos

      10. 7.1.10 Apple

    2. *List Not Exhaustive
  8. 8. Investment Analysis

  9. 9. Future Outlook of the Market

**Subject to Availability

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Frequently Asked Questions

The Greece E-commerce Market market is studied from 2020 - 2027.

The Greece E-commerce Market is growing at a CAGR of 12.15% over the next 5 years., Zara,, plasio, shein are the major companies operating in Greece E-commerce Market.

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