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E-commerce continues to grow in the EU
According to research conducted by Eurostat, the proportion of e-shoppers grew in the EU from 55 % in 2012 to 75 % in 2022, an increase of 20 percentage points.
 
The end of the pandemic lockdown seems to have influences on e-commerce. The returning of EU consumers to offline stores for shopping led to a slowdown in e-commerce sales. In 2022, 68% of respondents bought or ordered products or services online with an increase of 1% compared with 2021. The growth of e-commerce penetration varies in different countries, and there are significant differences in e-commerce consumption between ages.
 
Has the market of e-commerce in Spain reached the saturation point?
 
The latest EU research, based on the total population of all individuals aged between 16 and 74 years in EU countries, demonstrates that 68% of people have shopped online at least once. However, there is a significant difference in this ratio between different countries.
 
The highest shares of internet users who bought or ordered goods or services over the internet in 2022 were recorded in the Netherlands (92%), Denmark (90%) and Ireland (89%). On the other hand, fewer than 50% had shopped online in Bulgaria (49%).
 
The e-commerce penetration rate in Spain is 68%, consistent with the EU average. However, compared to last year, Spain's e-commerce penetration rate has only increased by 1.3%, from 66.6% to 67.9%. This contrasts with the 4% growth from 2020 to 2021, and this slowdown may mean that the Spanish market is approaching saturation.
 
Nevertheless, since 2012, the Spanish e-commerce market has achieved 68% growth and is entering a mature stage. With more competitors coming into the market, Spanish e-commerce may achieve slight growth.
 
Young people tend to purchase products more from national sellers.
 
According to the report, the most common online purchases of goods were clothes, shoes or accessories (ordered by 42% of internet users). Following wearables, the top 5 most common online purchases of physical goods were completed by deliveries from restaurants, fast-food chains and catering services (19%), cosmetics, beauty or wellness products (17%).
 
In terms of the origin of the products, the report highlights that almost half (49%) of products in the EU e-commerce market come from foreign manufacturers. In 2022, individuals aged 25-34 years presented the highest rate of individuals (61 %) with purchases from national sellers. The individuals aged 35-44 years followed with 60 %, while those aged 55-74 years were lowest with a rate of 39 % of e-shoppers in 2022.
 
As cross-border trade continues to play its important role, an innovative financial tool will be instrumental in driving business growth. iPeakoin provides a one-stop shop for cross-border payments and expense management for businesses with key products like Global Accont, Virtual Cards, Crypto Wallet, and is committed to building an integrated global financial infrastructure.
 
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For more information about E-commerce, visit our blog page. Or just want to say hi, feel free to send us a note at marketing@ipeakoin.com.