Amidst a backdrop of economic and political fluctuations in 2022, the European e-commerce landscape witnessed a standout champion: the fashion industry. According to the European E-commerce Report 2023 by Ecommerce Europe and EuroCommerce, fashion – encompassing clothing, footwear, and accessories – reigned supreme, capturing an impressive 68% share of all online purchases in the region.
This remarkable dominance far surpassed other product categories. Multimedia products, including music, movies, and books, secured a 34% share, while meal delivery services followed at 30%. Beauty and cosmetics claimed a 27% share, with sporting goods trailing at 23%.
Despite the challenging environment, marked by the Russian war in Ukraine and soaring inflation rates, fashion e-commerce thrived. Rising prices played a pivotal role in boosting e-commerce revenues, offsetting the decrease in purchase volumes. Moreover, the surge in online services purchases further bolstered the industry’s resilience.
While inflation posed challenges to the sector’s growth, the report outlined strategies to mitigate this effect. In 2021, inflation-adjusted e-commerce growth in Europe remained strong at +9%. However, in 2022, the impact of inflation led to the first-ever decline, by -2%. Eastern Europe (5% growth) and Southern Europe (13% growth) emerged as exceptions, signaling promising trends.
The report forecasts a positive trajectory for 2023, with the e-commerce sector poised for recovery as inflation rates recede. It anticipates a growth rate of +2% this year, with a continued upward trend in online sales, aiming to reach an estimated 30% of total retail sales by 2030. «Being present online has become vital for many retailers, especially smaller businesses,» emphasized Christel Delberghe, director general of EuroCommerce.
The report’s deep dive also examines various types of e-tail sales. A significant 81% of online shoppers preferred domestic sellers, with 37% exploring foreign options. Within Europe, 31% of consumers opted for vendors from other European countries, while 19% ventured outside the continent, and 15% shopped from unidentified global sources.
In this comprehensive 97-page report, available on the Ecommerce Europe website, you’ll find a detailed breakdown of online sales across 37 observed countries, categorized by geographical areas – Northern, Southern, Central, Eastern, and Western Europe. Western and Northern Europe emerged as e-commerce powerhouses, boasting 87% and 85% of their internet users as online shoppers. Western Europe, in particular, commanded a substantial 67% of European e-commerce revenue.
Fashion’s remarkable ascendancy in European e-commerce in 2022 underscores its adaptability in challenging times. These insights point to an exciting future for online retailers and consumers in a continually evolving digital shopping landscape.
