Greece E-commerce Market Size (2024 - 2029)

Greece E-commerce Market Analysis

The Greece E-commerce market is expected to register a CAGR above 10.12% during the forecast period. The European E-commerce market has been expanding rapidly in recent years, providing exciting potential for online retailers in various industries. Greece is one of Europe's most important retail marketplaces and an important E-commerce market. Regarding internet penetration, E-commerce customer proportion, and average expenditure, Greece's E-commerce market is slightly behind the European average.

• In recent years, Greece's electronic commerce (E-commerce) had grown significantly, particularly during the current COVID-19 crisis, when the Greek government had made significant strides to modernize the country digitally. The Ministry of Digital Governance modified its digital strategy, known as the "Digital Transformation Bible," first introduced in the pre-COVID era and is now planned to be developed between 2020 and 2025.
• Furthermore, according to World Bank, in 2021, about 13.42% of the Greek population fell into the 0-14-year category, 63.94% into the 15-64 age group, and 22.64% were over 65 years of age. Such a huge percentage of the population in the age group between 15 and 64 years will drive the studied market in the forecasted period, availing several E-commerce platforms, both end-user-centric and general ones.
• Similarly, the increase in internet use will guide the steady growth of the market studied. According to Eurostat, the number of internet users that bought goods and services online has increased from 45% in 2017 to 59% in 2020, an increase of 31% from 2017 and expected to reach 63% in 2021. Such a rise in online purchases in the region will significantly create an opportunity for new players to enter the market and international players to expand their presence in Greece.
• However, over the long term, companies must indulge in innovative measures to acquire new and retain old customers other than just discounting and taking a hit on the margins in the country. The introduction of new technologies, payment methods, growth of the different end users, image shopping, and Contextual and programmatic advertisements are expected to drive the Greece E-commerce market over the forecasted period.
• The COVID-19 crisis measures, according to the latest data supplied by the Greek Electronic Commerce Association (GR.EC.A), significantly enhanced the rising trend in online sales. Consumer expenditure grew 107 percent faster in May 2020 than in 2019. According to a Nielsen study, 22% of Greek shoppers made their first online supermarket purchase during the pandemic quarantine. Only 4% of shoppers would switch stores before COVID, but that number has risen to 26%. This trend is bolstered by investments announced by several significant firms interested in developing their online marketplaces.

Greece E-commerce Industry Segmentation

E-commerce is the buying and selling of goods and services over the internet through online shopping. However, this term is often used to describe all the seller's efforts in selling products directly to consumers. It begins when potential customers learn about a product, buy it, use it, and ideally maintain lasting customer loyalty.

The study also tracks key market metrics, underlying growth influencers, and significant industry vendors, providing support for market estimates and growth rates in the Greece E-commerce market throughout the anticipated period. The study goes on to look at Covid-19's overall influence on the ecosystem. The report's scope includes market size and forecasting for B2B and B2C segments, with the B2C channel being further split by application. 

The Greece E-commerce Market is also segmented into B2C E-commerce by application (Beauty and Personal Care, Consumer Electronics, Fashion and Apparel, Food and Beverage, Furniture and Home), and B2B E-commerce.