ResearchAndMarkets.com now offers the “Europe Ecommerce Market Opportunities Databook,” a comprehensive resource presenting over 100 key performance indicators (KPIs) across various ecommerce verticals such as Shopping, Travel, Food Service, Media & Entertainment, and Technology. This Q1 2024 update furnishes insights into market share by key players, sales channel analysis, payment instruments, and consumer demographics.
Anticipated Growth: The European ecommerce market is forecasted to expand by 4.45% annually, reaching a substantial value of US$ 1.2 trillion by 2024. Projections suggest steady growth with a compound annual growth rate (CAGR) of 7.24% during 2024-2028, elevating the gross merchandise value from US$ 1.15 trillion in 2023 to a projected US$ 1.59 trillion by 2028.
Market Dynamics: The report highlights the buoyancy of the B2C ecommerce market in Europe, especially noting an expected acceleration in consumer spending for 2024. The demand for discounted products across the region is fostering expansions by ecommerce players into new markets.
Return Fee Strategy: To mitigate the impact of rising return rates on profitability, retailers are implementing return fees for online purchases. Notable players like H&M have initiated this strategy, charging return fees for items bought online unless customers are part of a free membership loyalty scheme.
Expansion of Global Food Delivery Platforms: Global food delivery platforms are eyeing European markets for expansion to diversify their revenue streams. For instance, DoorDash, post its acquisition of Wolt, is aggressively expanding into European territories, leveraging its advertising business and targeting new verticals like retail and grocery.
Venture Capital Influx for Ecommerce Startups: In Germany, innovative ecommerce startups are emerging, aiming to provide smaller retailers a competitive edge against ecommerce giants like Amazon. These startups are attracting significant funding from venture capital and private equity firms, indicating a promising future for the sector.
Comprehensive Report Scope: The report provides a detailed examination of the ecommerce industry, encompassing various segments and offering insights into market dynamics and future forecasts. Key areas covered include market size and growth dynamics, market share by key players, sales channel analysis, payment instruments, and consumer demographics.
For more information on this report, please visit the official ResearchAndMarkets.com website.
