EUROPE E-COMMERCE MARKET - GROWTH, TRENDS, COVID-19 IMPACT, AND FORECASTS (2023 - 2028)

 From 2022 to 2027, the European e-commerce industry is anticipated to grow at a CAGR of 13.84 percent. The European market will continue to see higher levels of e-commerce penetration. Online sales grew by 43% yearly in the UK market. There has been a considerable shift towards online outlets since the UK shutdown started, and sales in the nation have been maintained. Additionally, it has sped up digitalization of German retail at every level. Due of its convenience, shipping, and affordable costs, Amazon saw an increase in the number of European customers during the lockdown. The six main Amazon sites in Europe have close to 300 million unique visitors each month. 

Cdiscount started sending goods to countries including Belgium, Germany, Italy, and Spain, which marked the beginning of its global expansion. A 15% increase in net sales from the previous year is the reason behind Cdiscount's expanding global presence. Customers of Cdiscount placed 5.8 million orders totaling 11 million items last year. 10,000 affiliated sellers are currently present on the Cdiscount marketplace.

In classic Zalando fashion, the online retailer has launched a new service to its platform that bridges the gap between new and used apparel for European clients. Additionally, Zalando is experimenting with using recycled materials and plastic-free packaging for all pre-owned items. Both support Zalando's do more sustainability strategy aim of eradicating single-use plastic by 2023 and prolonging the lifespan of 50 million goods.

Online shopping is taking up more of their time in Europe. Due to this, the rates of e-commerce penetration are highest in Western (83%) and Northern Europe (79%), while more consumers are experimenting with online shopping in Eastern and Southern Europe, particularly in Spain and Italy.

Mobile commerce is the main engine of growth in Europe, according to J.P. Morgan. In the UK and the Czech Republic, mobile devices are currently the most popular choice for online shopping. Smartphone use as a shopping tool is also common in Sweden, Norway, and Ireland.

Markets with European roots made up 11% of the total last year, an increase of 17% from the year before. The leading companies in the market are Zalando, Vinted, G2A, and Farfetch. Amazon also holds a commanding position in the European e-commerce business. To 51 billion euros, its revenue has increased over the prior year. With a turnover of 17 billion euros, eBay comes in second. By 2025, the market share of online platforms will increase to 65%.

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