Market Trends of Romania E-commerce Industry
This section covers the major market trends shaping the Romania E-commerce Market according to our research experts:
Significant Growth in E-Commerce is Expected due to Digital Transformation
- The digital economy is significantly developing with access to the internet made available across the globe. Various e-commerce market vendors are expanding their business in the Romania market to meet the growing demand for online retailing.
- The government is taking various strategic initiatives to enhance Romania's digital economy. For instance, the Romanian government launched the National investment and economic recovery plan in 2020, which will cover the years from 2021-to 2030. This plan will include the creation of an interoperability hub, the introduction of the electronic identity card, the migration of public services to a government cloud, and more such strategies.
- Similarly, in May 2022, the North Atlantic Treaty Organization (NATO) Deputy Secretary announced the partnership of the National Institute for Research and Development in Informatics - ICI Bucharest and the Romanian Ministry of Foreign Affairs to host the first International Conference on Cyber Diplomacy. The conference was hosted to protect data from cyber attacks due to the exposure of essential data with the increase in dependency on digital assets.
- Smartphones provide a great platform for buyers across the world to explore different market trends and websites for e-shopping. From Augmented Reality (AR) supported software that has significantly changed the e-commerce market by enabling the easy purchase of furniture and clothing online or ordering users' favorite Cappuccino from Starbucks, digital transformation has made lives less complex.
- As Romania is adopting digitalization, various market players in digital industries are looking forward to expanding their footprints in Romania. For instance, in January 2022, Mastek, a software company, announced the launch of its new office in București, Romania. Furthermore, the company has planned to recruit a skilled workforce that will include cloud experts, business analysts, & digital consultants.
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Fashion is Expected to Hold a Major Share
- The COVID-19 outbreak is responsible for the significant increase in online purchasing. Most Romanians were comforted during the pandemic by using digital shopping and e-payments, giving millions of users access to online businesses for the first time.
- The collection of customer data during shopping has been helpful for Romanian e-commerce platforms as it helps estimate the market's demand for products. Many key vendors are flourishing their online shops in the Romanian market. For instance, in March 2021, Zalando, Europe's online platform for fashion and lifestyle, launched its online store in Romania. This store will help the company expand its footprints and customer base in Europe.
- Social media websites and apps are used by a growing number of users in Romania, which shows how social plays a major role in e-commerce. Moreover, many social media platforms are developing their own e-commerce sites. For instance, in April 2022, Pinterest introduced WooCommerce, the Extension for the E-commerce Platform, where Merchants can upload their product catalog and create shoppable Product Pins.
- The fashion industry in Romania is witnessing continuous growth as the market players are looking forward to making various acquisitions in order to utilize their expertise in the online fashion industry. For instance, in September 2021, Maersk fashion logistics announced the addition of HUUB, a Portuguese cloud-based logistics start-up specialized in technology solutions for B2C warehousing for the fashion industry.
- The growth in the fashion industry in Romania is supported by numerous e-commerce vendors who are setting up their stores in the country to meet the growing demand of Romanian customers. For instance, in March 2021, Fashion House Group, developers in the outlet sector in Europe, announced its plan to open its second outlet center in Romania. The store will include various popular brands.
