Europe’s online trade is growing strongly – fashion as the front runner

The European B2C market is expected to grow at 14.96 percent per year and is expected to reach US$1010 billion (€1017.24 billion) by the end of this year.

New data from Research and Markets shows that e-commerce is an attractive growth path in Europe, projected to reach US$1,565 billion by 2026.

The pandemic has accelerated online shopping across all industries, with fashion retail continuing to drive digital sales. Other items such as groceries, cosmetics and health are also growing.

Research and Markets anticipates that the e-commerce market will see strong growth over the next three to four years, with offering personalized and enhanced customer experiences likely to remain a key growth driver for industry players.

France, Germany and the UK are Europe’s leading e-commerce countries

In all of Europe, Germany is one of the fastest growing economies and boasts a dynamic startup ecosystem. In addition, Germany is one of the European leaders in e-commerce together with the United Kingdom and France. Together, these countries generate 60 percent of all e-commerce sales in Europe.

With strong long-term growth expected for the German e-commerce industry, global e-commerce investors are expected to invest millions of euros in the country. Canadian e-commerce investor Clearco said it would invest EUR 500 million in the German market. To date, the company has financed over 7,000 companies with an investment volume of over 3 billion euros.

The UK, one of Europe’s leading digital economies, is an attractive market for global players, according to the study. Delivery giant ParcelHero said companies like Walmart may consider opening an online marketplace in the UK. In this way, they would become a welcome competitor to Amazon. Further data from ParcelHero shows that Amazon attracts 86 percent of digital shoppers in the UK.

This summer, Amazon launched its Amazon Fashion Concept in Europe after launching in the US in 2020. In addition to expanding in the UK, Amazon is also expected to expand the fashion shopping experience in France, Germany, Spain and Italy.

This translated and edited post previously appeared on FashionUnited.uk.

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