You must be aware that Europe’s spends in the online as well as offline markets are majorly contributed by its top populated countries and this is obvious as well. However, did you know that the UK does not necessarily dominate the e-commerce market in Europe as it is revealed in a report that 72% of the Europe’s e-commerce spends come from its six countries. It is also not obvious from the data that its countries with major population have the highest spends as there are some variations in the data as well with its six major countries being the UK, Netherlands, France and Germany as well as Italy and Spain.
This report from the e-commerce in post-pandemic era by CBRE states that “The ecommerce markets in the United Kingdom, Germany, France, Italy, Spain and the Netherlands generate the majority of online spending on the continent (72 percent). There are large differences between these six markets. The United Kingdom and Germany are the largest markets, both having a share of 28 percent on the total European ecommerce spend in 2022. The other four markets account for a quarter of spending”.
It is also noted by the report “that developed markets have seen small increases. In this study, e-commerce penetration was defined as the percentage of total retail sales in a market happening via online channels as opposed to in-store. If the growth trend from 2015 to 2019 had continued, the UK’s e-commerce penetration would now stand at 25 percent at the end of 2022. However, the actual figure is 27 percent”.
As per the report, the “German e-commerce market would have a penetration rate of 15 percent by the end of 2022. The actual figure came to 17 percent. On the other hand, the market in the Netherlands is back to its pre-pandemic trend. It saw no additional growth as a result of the pandemic”. It is worth noting that, according to the report and pre-pandemic trend, “countries with emerging e-commerce markets saw the largest relative increases. Spanish e-commerce would have a penetration rate of 9 percent, according to the pre-pandemic trend. The actual figure was 12 percent. For Italy, those figures were 8 and 10 percent”.