Europe's e-commerce set to soar, with fashion a top category

The European B2C market is expected to grow by 14.96 per year, and forecast to reach 1,010 billion dollars by the end of this year.

New data from Research and Markets says online commerce in Europe is an attractive growth story, expected to be worth 1,565 billion dollars by 2026.

The pandemic accelerated online shopping across categories, with fashion continuing to drive digital sales, with more consumers buying clothing and accessories. Other items, like food, beauty and healthcare are also growing categories.

Research and Markets states the e-commerce market is expected to record strong growth over the next three to four years, offering personalized and improved customer experience is projected to remain a key growth driver for players in the industry.

France, Germany and the UK are Europe’s top e-commerce countries

Across Europe, Germany is one of the fastest-growing economies and has a dynamic startup-up ecosystem. Moreover, along with the United ingdom and France, Germany is among the top European performers in the e-commerce industry. These countries together generate 60 percent of the total e-commerce revenue in Europe.

With the German e-commerce industry expected to record strong growth from the long-term perspective, global e-commerce investors are expected to pump millions of euros into the country. Canadian e-commerce investor Clearco said it would invest 500 million euros into the German market. To date the company has financed over 7,000 companies with an investment topping 3 billion euros.

The UK, one of Europe’s leading digital economies, is an attractive market for global players, according to the research. Delivery service giant ParcelHero said companies such as Walmart could consider launching an online marketplace in the UK. By doing so it would become a welcome competitor to Amazon. Other data from ParcelHero shows Amazon attracts 86 percent of the UK’s digital shoppers.

This summer Amazon debuted its Amazon Fashion Concept in Europe, after it launched in in the US in 2020. In addition to its expansion in the UK, Amazon is also expected to expand the fashion shopping experience France, Germany, Spain, and Italy.

For more information about this report visit https://www.researchandmarkets.com.