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Consumer Electronics and Fashion Industries Contribute the most to B2C E-Commerce Market in Europe

[JASDAQ 4171]

The B2C E-Commerce market in the UK is estimated to be the largest in Europe in 2021. Many businesses/retailers in Europe chose to focus on E-Commerce in the face of the restrictions on movement imposed with the onset of COVID-19. Thus, in 2020, revenues of Europe’s leading online retailers showed significant growth – about 40% compared to 2019. The region’s major markets saw significant growth in the online retail market, meaning that the U.K. continues to be Europe’s leader in B2C E-Commerce market size, growing more than 30% year-over-year in 2020.

In 2021, the U.K.’s B2C E-Commerce market share is expected to reach nearly one-third of total retail sales. Another mature market is Germany, where the B2C ecommerce market grew more than 20% year over year in 2020. And in the global ranking by value, Germany is estimated to be the sixth largest country by value in 2021. In Spain, value peaked in the fourth quarter of 2020, but year-over-year growth was fairly modest at just over 9% year-over-year.

Overall, home goods, food/beverages and health/beauty were among the fastest-growing online product categories in Europe in 2020, according to a survey in a new yStats.com report. However, when examining the markets more deeply individually, the pattern differs in each. For example, in the U.K., more than 50% of respondents in 2020, on average, bought clothes, shoes and accessories online, which was the leading product category. In Germany, however, the fashion and accessories segment ranked second, following consumer electronics, which accounted for nearly a quarter of total online sales in 2020. 

Home appliances and technology was the top product category consumers prefer to buy online in the future, followed by clothing and cosmetics, according to an October 2020 survey. In Russia, the preference for the product segment varied depending on the type of purchase, meaning that for domestic purchases, consumers preferred to buy consumer electronics online, with clothing and shoes as second choice, while for international purchases, clothing and shoes dominated, and the share of consumer electronics fell.

Read More: https://www.giiresearch.com/report/ysta1053971-europe-b2c-e-commerce-market.html 

Contact: marketing@giiresearch.com 

Tags: B2C E-commerce Market Size, Amazon, Alibaba, Apple Pay, Home Goods E-Commerce Market, Consumer Electronics in Germany, Europe E-Commerce Market Research

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