Home / Knowledge / News / Apparel/Garments / Eastern Europe e-commerce allures global investors
Eastern Europe e-commerce allures global investors
04
Nov '14
The growth and trends of B2C e-commerce in Eastern Europe has caught the eye of global investors, a new report by Hamburg-based business intelligence organization yStats.com said.

Yucel Yelken, the CEO of yStats.com, refers to the Eastern Europe region as “one of the most dynamic in growth of online retail sales.” Eastern Europe accounted for a small one-digit share of the global B2C e-commerce sales last year, dwarfed by the large double-digit shares of North America, Asia-Pacific and Western Europe. However, in terms of growth year over year, some of the nations of the region are among the global leaders.

The leading emerging markets in the Eastern Europe region in terms of market size are Russia, Turkey, and Poland. Russia and Turkey also scored high in year to year growth of B2C e-commerce in 2013, but were outpaced by close to 50 percent growth in Ukraine. Some smaller markets, such as Estonia and Slovakia generate significantly smaller sales of a few hundred millions of Euros, but outperform the rest of the region in terms of Information and Communication Technology (ICT) infrastructure metrics, such as Internet penetration.

Among the important trends spreading throughout the Eastern European region is the development of mobile shopping. M-Commerce is driven by growing smartphone and mobile Internet penetration. In countries such as Ukraine and Turkey over 40 percent of smartphone owners already have experience with mobile shopping.

Another important movement is cross-border B2C e-commerce. For example, in Slovenia and the Czech Republic close to half of all online shoppers made purchases from foreign online stores in 2013. Regulation of online retail sales is also a trend; the past two years were marked with adoption of important new rules affecting e-commerce in several Eastern European countries including Russia and Belarus.

One of the findings of the yStats researchers is that annual growth of e-commerce sales in Eastern Europe outpaced Western Europe by 13 percentage points in 2012. A double digit growth rate above 20 percent in Eastern Europe is expected for 2013, though this growth rate will decrease by 2017. Total e-commerce sales for the Eastern region are expected to reach over 50 billion Euros by 2016. (GK)

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Li & Fung

Textiles | On 24th Mar 2017

Li & Fung forms new supply chain partnership with PVH Corp

Li & Fung Limited, the world's leader in consumer goods design,...

Courtesy: Alizilla

Apparel/Garments | On 24th Mar 2017

Alibaba's eWTP finds first overseas base in Malaysia

In a step towards using the internet to bring small businesses around ...

Textiles | On 24th Mar 2017

BJMC to produce cotton-jute blended denim fabrics

To meet demand from the market, Bangladesh Jute Mills Corporation...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Sunil Kumar Sharma
Loknayak JPNSSSG Ltd

'The blend of cotton–linen yarn has high demand in the domestic and...

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
March 2017

March 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search