10/14/2019 New Industry news
The B2C ecommerce turnover reached 547 billion euros in 2018 and it is expected to reach the 621 this year according to the results shared by Ecommerce Foundation. Although Southern Europe is supposed to lead the growth, with a +20,3% forecast in 2019, almost all the turnover is generated in Western Europe (Netherlands, Belgium, UK, Ireland, France, Luxembourg and Germany). The insightful ‘European Ecommerce Report’ states that Western Europe generated nearly 66% of the whole European turnover in 2018 leaving all the other regions (central, southern, northern and eastern Europe) combined with a mere share of 34%.
Expected growth throughout Europe
Generally, total turnover is expected to reach 621 billion euros, that is a 13,6% total growth year-over-year. Needless to say, some regions are growing faster than others and the turnover generated varies greatly from country to country. In particular, Southern Europe is leading the way with a +20,3% increase y-o-y, reaching almost 94 billion euros. Italy and Spain pull the rest of the countries with a comprehensive +12,8 billion euros increase y-o-y.
Nevertheless, Southern Europe B2C ecommerce turnover is expected to account for less than a quarter of the Western Europe one. In fact, Western Europe will generate around 408 billion euros in turnover by the end of the year, with an increase of more than 44 billion euros!
When selling cross-border or domestically, it is always important to check the various options and to choose the right payment methods mix. Meeting the expectations of the target market is key to optimize conversion in the checkout phase. This is why, webshops should always keep an eye on the preferred payment methods of countries they want to increase sales in. For more detailed information, check out the infographic below!
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