News and reports on the e-commerce market in Central and Eastern Europe.
The Romanian e-commerce industry reached the threshold of 6.3 billion euros at the end of 2022, the value being slightly higher that the value recorded in 2021 (6.2 billion euros), according to the estimates of GPeC, ARMO and of the other local main stakeholders.
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According to ARMO (Association of Romanian Online Stores), GPeC and other industry players’ estimates, the e-commerce sector reached the 6.2 billion euro threshold at the end of 2021, almost 10% more than in 2020 when the value of e-commerce was estimated at 5.6 billion euro. The increase was slightly below the initial forecasts of expected 15% growth and 6.5 billion euro in online sales at the end of the year.
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According to ARMO (Association of Romanian Online Stores) estimates, the e-commerce sector exceeded the 5.6 billion euro threshold at the end of 2020, 30% more than in 2019 when the value of e-commerce was estimated at 4.3 billion euro. The increase was approx. 500 million euros over the initial forecasts, amid the COVID-19 pandemic which accelerated the online shopping rhythm, as well as the percentage of online card payments.
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According to the Romanian Online Shops Association’s (ARMO) estimations, the e-commerce sector exceeded the 4.3 billion euro threshold at the end of 2019, 20-22% more than in 2018 when the value of online commerce was estimated to an approximate 3.6 billion euro.
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The entire Romanian retail market is estimated at 45 billion euros, which means that the e-commerce market (3.5+ billion euros) represents approx. 8% of total retail, rising significantly from 5,6% in 2017 and approx. 4% in 2016. The percentage is low compared to other developed countries, but shows the huge growth potential of the Romanian e-commerce market in the coming years.
Romania’s e-commerce market grew significantly in 2018 and reveals an increased appetite for online shopping, advancing other countries and becoming a very interesting market for foreign investors who have already begun their online business in .RO. Now is the best time for any entrepreneur or company to start an online business – the market is still permissive enough and the accelerated growth trend will continue in 2019 and the following years.
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