Ecommerce in Eastern Europe
UK’s relationship with the Euro ecommerce market will change very soon. UK is getting ready to leave the European Union in 2018. UK e-retailers can learn from other European markets, even while their future relations with the EU are uncertain.
Central and Eastern European Markets notice the biggest growth in e-retail sales during 2016.
Ecommerce in Eastern Europe:
- firstly, Romania has performed best in this regard, growing at 38%
- secondly, Slovakia and Estonia have both seen growth at 35%
- also, Ukraine has boasted growth of 31%
Many of these countries are considered mobile-first markets. In Bulgaria, for example, 60% of online traffic is mobile.
In Romania and Ukraine, cash on delivery is the preferred method of paying. 88% of consumers prefer this in Romania. Also, 95% of consumers in Estonia prefer this method.
Central and Eastern European markets are mostly interesting how they interact with each other. During 2016, 33% of European online shoppers purchased abroad.
On another hand, Luxembourg is full member of the EU. Switzerland is outside of the EU but a member of the Single Market. Russia is outside of both. It is interesting to study how these countries are developing ecommerce.
Brexit will impose some barriers for UK e-retailers to strengthen engagement with consumers in these EU markets. It would be interested to view the process.
Finally, If you have any questions around anything, feel free to get in touch. We would love to hear from you.