Home > Reports > Europe B2C E-Commerce Market Trend, Growth to 2022-2030

Europe B2C E-Commerce Market

Europe B2C E-Commerce Market Share to Hit USD 1983 Million by 2030, at CAGR of 6.95%

Published On : 11 Nov, 2022
Updated On : 13 Nov, 2022
Table of Content Download Sample

Market Snapshot

Base Year:
2021
Study Period:
2020-2030
CAGR:
6.95 %

E-commerce (electronic commerce) is the buying and selling of goods and services through the Internet or through online services. E-commerce technology includes things like mobile commerce, electronic funds transfers, supply chain management, Internet marketing, online transaction processing, electronic data exchange (EDI), inventory management systems, and automated data gathering systems. Except for shipment and delivery, almost all e-commerce sales are handled over the internet, giving sellers and buyers the flexibility to conduct business at any time and from any location. B2C e-commerce has become one of the fastest-growing industries in globalization since shopping and selling online is more convenient than traditional sales. The five types of B2C e-commerce include direct sellers, online intermediaries, advertisement-based, community-based, and fee-based e-commerce.

During the projection period (2022–2030), the Europe B2C E-Commerce market is estimated to reach a valuation of USD 1983 million, increasing at a CAGR of 6.95%. In Western Europe, internet connection is practically universal. This, combined with the high penetration rate of digital devices, is the primary driver of e-commerce growth. Consumers prefer on-the-go purchasing, and mobile internet has gained popularity in Western Europe, with the majority of countries logging more transactions through mobile devices.

Get more information on this report Download Sample Report

Market Dynamics

Key Market Drivers

  • Great Penetration of the Internet: In Europe, digital literacy and skills are on the rise, with internet users rising from 87% to 89% by 2020. Over 95% of people in Western and Northern Europe use the internet, while 77% of people in Eastern Europe, where internet use is the lowest on the continent, were online. Perhaps most importantly for e-commerce, the proportion of European e-shoppers increased at an unprecedented rate in 2020, from 66% to 71% and this is a significant driver in the market’s growth.
  • Convenience with E-Commerce Shopping: Consumer decisions are influenced by convenience, which is fuelling B2C e-commerce growth. Convenience is at the heart of e-commerce, and it's one of the main reasons that online buying has exploded in popularity in recent years. Shopping online allows you to purchase products when and when it is convenient for you, using a payment method of your choice, and having your item delivered in a manner that is convenient for you. It's no surprise, then, that convenience is altering people's purchasing habits and perceptions of specific shopping possibilities. The need for b2c E-commerce channels has increased due to the easy and convenient payment methods, 24/7 customer service, doorstep home delivery to practically every area, and convenient refund and replacement policies of the e-commerce platforms.

Key Market Restraints

  • Privacy and Security Concerns: Customers who shop online need to know that their transactions are safe and that their financial information is kept secure, as Internet security is an important part of e-commerce. There are four important factors in B2C e-commerce that can be exploited. An example is an internet user, their computer, the network connection between the buyer and the merchant's Website host, and the merchant's server. Security threats are actual security attacks that can jeopardize a B2C e-commerce system's availability, integrity, and confidentiality. As a result, worries about privacy and security in B2C e-commerce are projected to impede market expansion in Europe over the projection period.

Key Market Opportunities

  • Role of Artificial Intelligence and Virtual Technology: It's not simply about moving stock over the internet. E-Commerce is a continually changing beast by its very nature, and those who wish to stay ahead of the game must have their finger on the pulse. Surprisingly, the majority of customers abandon their shopping carts before making a purchase. This suggests that businesses must do a lot more to persuade shoppers to stick with their decision and buy products online. Virtual reality is a new technology that might be able to help. It has the ability to transform the world of B2C E-Commerce, and over a third of customers say more should be invested in these technologies to ensure they play a larger role in their purchasing experience, making this a lucrative opportunity for the major players in the European region.

Segment Overview

The Europe B2C E-Commerce Market share has been divided into three categories: type, application, and region.

By kind, the B2C e-commerce market has been divided into B2C retailers and classifieds. The B2C merchant's type sector is likely to dominate the region's market, with a forecasted value of USD 7,971 billion by 2030, representing an annual growth rate of 8%. An increase in internet banking and mobile transactions is expected to move the segment forward in the coming years.

Second, smart city developments and urbanization have resulted in a westernized lifestyle in emerging countries, resulting in the shift from traditional to online shopping patterns. Globalization's ease of doing business, effective logistics network, and significant demand beyond countries are credited with the increase.

Automotive, beauty & personal care, books & stationery, consumer electronics, clothing & footwear, home décor & electronics, sports & leisure, travel & tourism, media & entertainment, information technology, and others have been categorized into the B2C e-commerce market depending on the application. The apparel and footwear application category is likely to lead the European market, with a forecasted value of USD 2,607 billion by 2030, representing an 11% CAGR over the forecast period.

This is owing to the burgeoning online fashion industry, which allows merchants and producers to market their wares. Shopping on fashion websites offers a variety of payment and merchandise choices, as well as home delivery and speedy returns. The user-friendly and uncomplicated web page interface, with the help of the search system, provides for easy investigation of numerous product kinds, boosting the consumer's delight.

Apparel websites cut down on store line-ups, broadened the reach of businesses, and allowed busy people to "shop from anywhere." Virtual dressing rooms, gate delivery, and returns, for example, have eliminated the need for transportation or travel, while shopping websites are available 24 hours a day, seven days a week.

Regional Overview

Europe B2C E-Commerce Market Regional Analysis

Countrywise Growth Insights Request Sample Pages

The Europe B2C E-Commerce Market is expected to reach a valuation of USD 1983 million during the projected period (2022–2030), growing at a CAGR of 6.95%. Internet access is nearly common in Western Europe. The fundamental driver of e-commerce growth is this, paired with the high penetration rate of digital devices. Consumers enjoy purchasing on the go, and mobile internet has grown in popularity in Western Europe, with the majority of countries recording more transactions using mobile devices.

Consumers in Europe continue to choose e-commerce for clothes and footwear purchases, owing to the channel's ability to provide not just easy product and price comparisons, but also, increasingly, the purchase of whole trendy ensembles and online free stylist consultations. As more people turn to e-commerce for food and drink products with the convenience of home delivery, urbanization is one of the reasons for boosting the expansion of online grocery sales. Amazon.com remains the largest B2C E-Commerce company in Western Europe.

Many retailers in the region have decided to invest in E-Commerce as a result of Covid. As a result, the revenue of leading European E-Commerce companies increased by about 40% in 2020 compared to 2019. The major markets in the region have also witnessed remarkable growth in the online retail business, with the United Kingdom continuing to lead Europe in terms of B2C E-Commerce, with over a 30% year-over-year rise in 2020. B2C E-Commerce is estimated to account for over a third of retail sales in the United Kingdom by 2021, placing it third globally in terms of sales volume behind China and the United States. Germany, another mature economy, saw its B2C E-Commerce market grow by more than 20% year over year in 2020. In terms of worldwide position, Germany was expected to be sixth among other countries in 2021, based on its value. However, when compared to the same period the previous year, B2C E-Commerce values in Spain peaked in Q4 2020, however, the gain was not as significant as in other Western European neighbors. Furthermore, transactions from Spain to other countries accounted for a significant portion of total B2C E-Commerce revenues in Spain.

 Clothing, shoes, and accessories were the most popular product category in the UK in 2020, with over half of respondents buying them online. However, in Germany, fashion and accessories fell to the second position, behind consumer electronics, which will account for about a quarter of all online sales by 2020. According to the data, the top three product categories purchased online in Spain were technology/communication, entertainment/culture, and food. In Russia, consumer preferences for product segments differed based on the type of purchase, indicating that when shopping locally online, people preferred consumer electronics, with clothing and footwear coming in second.

Major Players

Some of the major players in the European Region (having significant market shares) are listed below:

  • Amazon
  • Apple
  • Apple Pay
  • Google Pay
  • H&M
  • Ikea
  • Web Money
  • Wild berries
  • Flipkart

Recent Developments

  • The new VAT e-commerce regulations, which took effect on July 1, 2021, are likely to have boosted local shopping. Cross-border sellers must now charge the buyer's country's VAT rate, which applies to all sellers above the micro-enterprise threshold, and they must also register their firm for VAT in either the customer's country or the one-stop shop.

Europe B2C E-Commerce Market: Segmentation

By Type

  • B2C Retailers
  • Classifieds

By Application

  • Automotive
  • Beauty & Personal Care
  • Books & Stationery
  • Consumer Electronics
  • Clothing & Footwear
  • Home Décor & Electronics
  • Sports & Leisure
  • Travel & Tourism
  • Media & Entertainment
  • Information Technology (Software)
  • Others

By Country

  • United Kingdom
  • France
  • Germany
  • Italy
  • Russia
  • Spain
  • Rest of Europe
Price Starts From
$3250

Purchase Benefits

  • Eligible for a free updated report next year
  • Completely customizable scope
  • 30% discount on your next purchase
  • Dedicated account manager
  • Query resolution within 24 hours
  • Permission to print the report

As featured on :

Trusted by Fortune 500
Over 30000+ subscribers