E Commerce Grows 19 Percent in Europe This Year

E Commerce Grows 19 Percent in Europe This Year

The Global E commerce Association predicts that in 2017, e commerce in Europe will increase by 19 percent. However, In Asia, e commerce will be growing harder this year. Europe has the highest internet penetration and the e commerce boom there is much more striking.

According to the Global E commerce Report 2017, written by the E commerce Foundation, the e commerce sales growth rate is predicted to decline. But, e commerce is still growing all over the world with growth rates last year ranging from 1.45 to 39 percent. For the European section of the report, the e commerce foundation looked at France, the UK, Germany, Russia, Italy, Spain and Turkey.

Logistical Performance Highest In Germany

As research shows, logistical performance is different in every country. The score is the highest in Germany (4.23). The United Kingdom comes in second with (4.07) and the United States in third with (3.99). Russia has the lowest score overall, with (2.57) points. The score reflects perceptions of a country’s logistics based on a few things, which are, the efficiency of custom clearing process, quality of trade and transport related infrastructure and ease quality of logistic service.  

The E commerce foundation has also looked as the ease of starting a business in a country. This mean, where the regulatory environment is the best for the starting of a business.The United Kingdom landed itself on the 7th place in the list. Whereas, Germany ranked 17th and France 29th.

Europe Has The Highest Internet Penetration

According to the report, Europe has the highest internet penetration, with 80.5 percent of its population accessing the internet. However, the lowest penetration is in Asia Pacific with 46.6 percent. To be more specific, the region generally has high internet penetration rates but because India and Indonesia’s extremely low rates, this affects the overall average and brings it down substantially. When we look at the penetration rates country by country in Europe, UK ranks as the highest with 97.52 percent.

E Commerce In Europe: 400 Billion Euros in 2017

According to calculations, the total b2c e commerce turnover for the selected countries is expected to see a rise to about 1.56 trillion euros in 2017.As you can see in the pie chart below, the Asia Pacific region has the most share of this e commerce turnover. Asia Pacific accounts for almost half of the total commerce revenue. Europe contributes a 25.64 percent share with a turnover of about 400 billion euros.

Research has also been done by the E commerce Foundation on which countries have the fastest growing e commerce market. Australia takes the lead with a 40 percent growth and Turkey comes in second place with 31 percent. The top five include Italy with 26 percent and Spain with 25 percent.

Another interesting fact about Europe, it that it currently holds the highest e commerce share of GDP compared to all the regions. E commerce in Europe accounts for 4.91 percent of the region’s gross domestic products. United Kingdom currently holds the highest E-GDP where it accounts for the country’s GDP. But, when it comes to e-shoppers North America is still taking the lead with Europe still far behind. In North America 70 percent of its internet users also shop online whereas in Europe only 58 percent of their internet users shop online.

A year ago or even longer before, 57 percent of online consumers purchased something through their smartphone or tablet in europe. But now, 22 percent of consumers purchase weekly using their mobile devices. In addition, 40 percent of these consumers are very happy with their purchases made through m commerce. Many happy mobile shoppers can be found in the UK and France.

People In Europe Like To Pay with Credit Cards

According to the information that has been collected, paying by credit card is the most popular form of payment method (54%) in Europe. Payment by debit card follows close behind with 45% followed by PayPal with 39 percent, followed by cash on delivery which is 20 percent, bank transfer at 11 percent and lastly gift cards at 7 percent. Turkey moreover has the highest monthly online payments, with 44 percent of its people making online payments monthly.

Bank credit cards are the most used e commerce payment method globally

 

Post originally written by E Commerce News Europe on the 29th September 2017

Leave a Reply

Your email address will not be published. Required fields are marked *