Finance & Economics

Here’s how much European marketplaces are estimated to value

50% of online shoppers use marketplaces

marketplace

Here’s how much European marketplaces are estimated to value. Source: shutterstock.com

According to Ecommerce News, with the growth in e-commerce itself, marketplaces have seen strong growth this year as well.

A recent report published by RetailX found that across Europe, half of online shoppers use marketplaces. In the UK, as many as 64% of shoppers turn to marketplaces first. This is a big change from what RetailX had previously recorded: 57%. A quarter of all UK online shopping happened on Amazon.

Interestingly, total e-commerce revenues in Europe are estimated at €396 billion in 2021. With marketplaces garnering around half of the e-commerce sales, RetailX estimates the value of European marketplaces around €120 billion to €150 billion. This is a significant growth when compared to the 100 billion euros estimate in RetailX’s report from last year.

While marketplaces are becoming more dominant across Europe, the report shows that there are significant differences per country. In Spain, the market is still dominated by mixed marketplaces that are marketplace spin-offs from retailers, such as El Corte Inglés and Privalia.es.

The most established European marketplaces have grown in their home regions, with the Dutch Bol.com reaching 79 million visits per month. Germany’s OTTO has grown it’s revenue in 2020 with 37% when compared to its net sales in 2019.

Germany and the UK have a very high proportion of marketplaces compared to non-marketplace retailers across the whole online retail traffic sample. There is a growing proportion of retailers that are also becoming marketplaces, running marketplaces or who want to sell on marketplaces.

The Czech Republic, Denmark, Finland, Greece, Norway, Sweden and Slovenia are on the other end of the scale as they are all very light on marketplaces. The majority of online sales in those countries come from non-marketplace sites.

The report mentions that Spain, Italy, Poland and to some extent France and Portugal have an almost 50% split between marketplaces and non-marketplace retailers. In these markets Amazon isn’t a dominant presence. Allegro and Wildberries are targeting these markets, potentially filling that Amazon void soon.

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