The Biggest Е-Commerce Markets in Europe.
How to Expand Your Business and Get More Clients?

The outlook for the European e-commerce market remains vital for the near term. The growth of Internet users and the development of mobile devices continue to drive the growth of online shopping. The demand for goods and services that can be bought online continues to grow, and this trend is getting stronger yearly. An important reason for the success of European e-commerce is also the growth of smart technologies. Businesses can analyze data and offer customized content using artificial intelligence and machine learning. It allows companies to increase consumer loyalty and conversions.

According to Eurostat by 2022, 91% of Europeans aged 16 to 74 had used the internet, and 75% of them had bought or ordered goods or services. The percentage of people shopping online increased from 55% in 2012 to 75% in 2022, a 20 percentage point increase.

Top Industries for Online Commerce:

  • Clothing and shoes: many online stores offer a wide range of clothing, shoes, and accessories for men, women, and children.
  • Electronics: computers, smartphones, televisions, household appliances, and other electronic devices can be bought online in many stores.
  • Food and beverages: food and beverages can be ordered online from restaurants, coffee shops, grocery stores, and more.
  • Gifts and souvenirs: online stores offer various gifts and souvenirs for numerous occasions.
  • Medical services: some medical services, such as doctor’s consultations and drug delivery, can also be ordered online.
  • Software and internet services: software, cloud services, online games, and other services can be purchased over the Internet.
  • Travel: flights, hotels, tours, taxi and other travel services can be booked online.

 

The Most Profitable E-commerce Regions
in Europe:

  • The UK has the largest e-commerce market in Europe. The most prominent players in this market include companies such as Amazon, Tesco, and Asos.
  • Germany is the second-largest e-commerce market in Europe. Companies like Amazon and Otto dominate this market.
  • France is the third-largest e-commerce market in Europe. The most prominent players in this market include companies such as Amazon, Cdiscount, and Fnac.
  • Italy is one of the fastest-growing e-commerce markets in Europe. This market is dominated by companies such as Amazon and Zalando.
  • Spain is also one of Europe’s fastest-growing e-commerce markets. Companies like Amazon and El Corte Ingles dominate this market.
  • The Netherlands has a highly developed internet infrastructure; therefore, the e-commerce market here is one of the most developed in Europe. The most prominent players in this market include companies such as Amazon and Bol.com.
  • Switzerland also has a high level of Internet infrastructure development; therefore, the e-commerce market is growing steadily.

 

 

The European e-commerce market is expected to continue to grow in the future. By 2027, Statista projects e-commerce revenue to reach US$730.3 billion, representing a growth rate of 9.97% (CAGR 2023-2027) leading to US$1,068.0 billion in market volume.

 

Advantages of E-Commerce for Business Owners

E-commerce has many benefits for business owners. Here are a few of them:

 

  • Globalization: e-commerce allows companies to reach customers all over the world. With an online store, businesses can sell their products or services to anyone with an internet connection, regardless of location.
  • Audience growth: online customer acquisition allows you to attract new customers who do not have access to the traditional retail network.
  • Cost reduction: e-commerce allows businesses to reduce the cost of renting and maintaining a store, staff salaries, advertising, and other expenses.
  • Increasing sales: e-commerce allows businesses to increase sales by offering customers more products and services and a convenient way to buy products and services online.
  • 24/7 availability: e-commerce allows companies to sell their products or services around the clock. Customers can make purchases at any time of the day or night, even after business hours.
  • Improved customer data: e-commerce allows businesses to collect detailed customer data, including shopping habits and preferences. This information can be used to create targeted marketing campaigns and improve the customer experience.
  • Increasing efficiency: e-commerce streamlines many business processes, from order fulfillment to inventory management. It can help businesses operate more efficiently and reduce errors.
  • Reduce risk: e-commerce enables businesses to reduce the risk associated with traditional inventory levels and costs. It allows enterprises to reduce their stock of goods and services and reduce the risk of losses.

 

Businesses can grow and prosper in today’s digital economy by taking advantage of these benefits.

 

Top 10 Largest E-Commerce Markets in Europe

Based on various studies of the e-commerce market in Europe recently, the top 10 can be determined in 2022-2023:

 

  1. United Kingdom remains the largest e-commerce market in Europe, with an estimated market size of $173.7 billion.
  2. Germany is the second-largest e-commerce market in Europe, with an estimated market size of $113.6 billion.
  3. The e-commerce market in France is expected to reach $89.2bn in 2023, making it the third-largest market in Europe.
  4. Ukraine’s e-commerce market is rapidly growing (despite russian war) and is expected to reach over $50bn in 2023.
  5. The e-commerce market in Italy is expected to reach $37.1 billion in 2023, making it the fifth-largest e-commerce market in Europe.
  6. Spain’s e-commerce market is expected to reach $29.3 billion.
  7. The Netherlands’ e-commerce market is expected to reach $24.7 billion.
  8. The e-commerce market in Sweden is expected to reach $17.7 billion.
  9. The e-commerce market in Switzerland is expected to reach $10.2 billion.
  10. The e-commerce market in Poland is expected to reach $9.7 billion.

 

It is worth mentioning that these estimates may be subject to change as the e-commerce industry is constantly evolving, and these figures are based on various sources and methods.

 

Would you like to expand your marketplace and increase sales?

How to Increase Website or Marketplace
Traffic and Sales?

  • Globalization — Businesses can reach customers all over the world through e-commerce. An online store allows businesses to sell their products or services to anyone with an internet connection.

 

  • Localization — If you’re targeting customers in different regions, it’s essential to localize your website or marketplace to their language, currency, and cultural aspects, preferences, so on. Loсalization surely helps improve your website’s user experience and makes it easier for customers to navigate your site.

 

  • Competitor research — Researching your competitors can help you understand their strengths and weaknesses, identify gaps in the market, and differentiate your brand from theirs. It can help you create unique value propositions and tailor your marketing strategy to target specific segments of customers.

 

  • SEO — It is a critical strategy for driving traffic to your website or marketplace. It involves optimizing your website’s content and structure to improve its visibility and ranking on search engines like Google. Some basic SEO tactics include using relevant keywords, creating high-quality content, optimizing your site’s meta tags, and building backlinks.

 

  • Paid advertising — It can help you reach a larger audience quickly and effectively. Platforms like Google Ads, Facebook Ads, and Instagram Ads allow you to target specific segments of customers based on their demographics, interests, and behaviors. It can help you attract high-quality traffic to your site and generate more sales.

 

  • Social media marketing — Social media platforms like Facebook, Instagram, Xing, and Twitter can be powerful tools for driving traffic and sales to your website or marketplace. By creating engaging content, building a loyal following, and using social media advertising, you can attract new customers and retain existing ones.

 

  • Email marketing — Email marketing helps you nurture leads, build customer relationships, and drive repeat business. Creating targeted email campaigns based on customer behavior and preferences increases website’s traffic and sales.

 

  • Customer reviews and ratings — Positive customer reviews and ratings can help build trust and credibility with potential customers. Encourage your customers to leave reviews and ratings on your website or marketplace, and display them prominently to attract new business.

 

Overall, the key to increasing traffic and sales to your website or marketplace is to understand your customers’ needs, preferences, and behaviors and tailor your marketing strategy to meet those needs. Using a combination of the abovementioned tactics, you can drive more traffic, generate more sales, and grow your business.

What Languages Should You Translate
Your Website?

When deciding which languages to translate your website into, you should consider various factors, including the target audience, the purpose of your website, and your business objectives.

 

However, if we look at statistics, the following languages are among the most commonly used online, except English:

 

  • China’s Mandarin language is the most commonly spoken language in the world, and China is the world’s largest online market. Translating your website into Chinese can help you reach a massive audience.

 

  • Spanish is the second most spoken language in the world and the official language of twenty-one countries. Translating your website into Spanish can help you reach a large audience in the Americas and Europe.

 

  • Arabic is the fifth most spoken language in the world and the official language of twenty-six countries. Translating your website into Arabic can help you reach a large audience in Europe, the Middle East, and North Africa.

 

  • French is spoken by over three hundred million people all over the world and is the official language of twenty nine countries. Translating your website into French can help you reach a large audience in Europe, Africa, and Canada.

 

  • German is spoken by over 100 million people worldwide and is the official language of Germany, Austria, and Switzerland. Translating your website into German can help you reach a large audience in Central Europe.

 

  • Ukrainian. According to Ethnologue, as of 2021, there were approximately 46 million Ukrainian speakers worldwide. Historically, many Ukrainian-speaking people are outside of Ukraine in countries such as Moldova, Romania, Poland, Slovakia, Canada, and the United States. Recently, interest in the Ukrainian language has revived, especially after the Revolution of Dignity in 2014. With the russian war in Ukraine and the arrival of many refugees in Europe in 2022-2023, the Ukrainian language has become increasingly popular in e-commerce. Many of these refugees want to find goods and services that can be ordered in Ukrainian. Companies that provide Ukrainian-language services and goods undoubtedly have significant advantages.

 

  • Portuguese is spoken by over 200 million people worldwide, and it is the official language of Portugal, Brazil, Angola, Mozambique, and other countries. Translating your website into Portuguese can help you reach a large audience in Brazil and Portugal.

 

  • Japanese is spoken by over 128 million people worldwide, and Japan is a significant market for many industries. Translating your website into Japanese can help you reach a large audience in Japan.

Of course, there are many other languages to consider, depending on your target audience and business goals. Researching your specific market and determining which languages will best serve your needs is essential.

 

Besides, using professional translation services for your website can offer several benefits, including:

 

  • Accurate translations: Professional translation services ensure that your website content is translated accurately, taking into account any nuances, idioms, and cultural differences that could impact the meaning of your text. A professional translator has the necessary linguistic skills and expertise to produce accurate and culturally appropriate translations.

 

  • Increased credibility: A website that is available in multiple languages can increase your credibility with international customers and business partners. By offering content in your customer’s preferred language, you show that you are committed to their needs and are willing to invest in building relationships with them.

 

  • Improved SEO: Translating your website into multiple languages can potentially improve your search engine optimization (SEO) efforts. It is because search engines such as Google consider the language of a website when ranking it in search results. Offering content in multiple languages increases the chances that your website will appear in search results for users searching in those languages.

 

  • Reach new markets: Translating your website into different languages can help you reach new markets and expand your customer base. By making your website accessible to people who speak other languages, you open up new opportunities for business growth and expansion.

 

Overall, using professional translation services for your website can help you communicate effectively with your international audience, increase your credibility, and open up new opportunities for growth and expansion.

In Conclusion

Expanding a website or marketplace and acquiring more clients can be challenging, but it can be accomplished with the right strategy and execution. Here are some tips to consider:

 

  • Identify your target audience. You must know your ideal customers to reach them effectively. Conduct market research and collect data on your existing customers to understand their needs and preferences.

 

  • Optimize your website. Make sure your website is user-friendly and easy to navigate. Ensure that it loads quickly, is mobile-friendly, and has a clear call-to-action (CTA) to guide visitors toward conversion.

 

  • Leverage social media. Use social media platforms like Facebook, Instagram, Twitter, Xing, and LinkedIn to promote your brand and reach your target audience. You can run paid advertising campaigns on these platforms to drive traffic to your website or marketplace.

 

  • Offer discounts and promotions. Offering discounts, free trials, or upgrades can help attract new clients and retain existing ones. Ensure that your offers are compelling and relevant to your target audience.

 

  • Implement a referral program. Encourage existing customers to refer their friends and family to your website or marketplace. You can incentivize them by offering discounts or other rewards.

 

  • Provide exceptional customer service. Ensure you provide top-notch customer service to your clients. It will keep them coming back and encourage them to spread the word about your company, brand, services etc.

 

Following these tips can expand your website or marketplace and attract more clients. Remember to monitor your progress and make necessary adjustments along the way to optimize your strategy. Boosting your website or marketplace is an ongoing process that requires careful planning, research, and execution. By creating a globalization strategy with Kenaz, implementing website localization, investing in SEO, leveraging social media, and focusing on customer experience, you can attract more clients and grow your business over time.

Ready to attract more clients? We are here to help you!