Dublin, June 05, 2024 (GLOBE NEWSWIRE) -- The "Europe Ecommerce Market Opportunities Databook - 100+ KPIs on Ecommerce Verticals (Shopping, Travel, Food Service, Media & Entertainment, Technology), Market Share by Key Players, Sales Channel Analysis, Payment Instrument, Consumer Demographics - Q1 2024 Update" report has been added to ResearchAndMarkets.com's offering.
The Ecommerce market in Europe is on a trajectory of consistent growth, indicating a thriving sector with potential for substantial economic impact. With a discernible increase in consumer spending and the expansion of key players across the European landscape, the industry's Gross Merchandise Value (GMV) is expected to grow from US$1.15 trillion in 2023 to US$1.59 trillion by 2028.
This positive growth outlook is fueled by a robust compound annual growth rate (CAGR) of 7.24% during the period of 2024-2028. The optimism is further bolstered by the strategic expansion of global firms seeking to tap into this promising market, especially within the bustling B2C e-commerce and online food delivery sectors.
The competitive landscape is also fast-growing in the online food delivery sector. Global firms are planning to expand presence in European markets to diversify revenue growth over the medium term. This trend is projected to continue further in 2024 in Europe.
Retailers are charging return fees on online purchases to offset the rise in delivery and processing costs
Product return has been a major issue for online commerce platforms. The surge in return rate is adversely affecting the profitability of most retailers. As a result, firms are now charging return fees on online purchases to offset the rise in delivery and processing costs.
- H&M, for instance, announced that the firm is set to charge shoppers who wanted to return their unwanted items bought online. The group, in September 2023, revealed that it will charge £1.99 to take back items that are not faulty or damaged by post. The fee will be deducted from the customer's refund unless they are signed up for the free membership loyalty scheme offered by the firm. H&M, however, is offering free returns for in-stores.
- H&M is not the only retailer to have adopted such return policy measures. Similar return fees have been introduced by rival retailers including Zara, New Look, Uniqlo, Boohoo, and Next. Asos and Marks & Spencer, however, have continued to offer free returns in their bid to bring in more shoppers. H&M, going forward, is planning to launch the return fee in more of its global markets in 2024, after introducing it in the United Kingdom in 2023.
Global food delivery platforms are seeking to expand their presence in the European markets
To diversify their revenue stream and reduce dependence on the domestic market, global food delivery businesses are projected to expand their presence in the European market over the medium term.
- DoorDash, for instance, is seeking to diversify beyond its core business of delivering restaurant meals in the United States. The push into the European markets comes 18 months after the firm acquired Finland-based Wolt in an all-stock deal worth €7 billion. The firm has been growing at a significant pace over the last 12 to 18 months. At the end of September 2023, the firm reportedly generated US$878 million of free cash flow in the 12 months.
- DoorDash has been expanding in smaller geographies to avoid competition. The firm, for instance, launched operations in Austria and Iceland in 2023. Going forward, the publisher expects DoorDash to further launch services in other European markets, having lower competition. Over the medium term, DoorDash is also targeting to build its advertising business. The segment has helped DoorDash to achieve higher revenues in 2023.
To diversify its business, DoorDash is also targeting expansion into the high-growth retail and grocery sector. The expansion into new verticals will further drive the competitive landscape in the B2C e-commerce industry over the next three to four years.
E-commerce startups are expected to raise funding from venture capital and private equity firms
To offer smaller retailers a fighting chance in a sector that is dominated by online behemoths like Amazon and Zalando, innovative e-commerce startups are emerging in the sector in Germany. These startups are now seeking funding from venture capital and private equity firms.
- VisionAI, in October 2023, announced that the firm had €5 million as part of its seed funding round, which was led by HV Capital. The firm, notably, leverages artificial intelligence to provide e-commerce merchants with better search results and cross-selling opportunities.
- Amazon, for instance, earns significant revenue through its cross-selling and recommendation engine. This is a clear indication that the services offered by VisionAI are relevant for the growth of the e-commerce sector. In the initial 15 months of its operations, the startup has generated a revenue of €1.5 million in sales.
Report Scope
This report provides a detailed data-driven look at the Ecommerce industry, covering various segments and highlighting areas of interest across the verticals in the industry. In addition, it provides a comprehensive understanding of market dynamics and future forecast.
Ecommerce Market Size and Future Growth Dynamics
- Gross Merchandise Value Trend Analysis
- Average Value Per Transaction Trend Analysis
- Gross Merchandise Volume Trend Analysis
Ecommerce Market Share by Key Players
- Retail Shopping Ecommerce Market Share by Key Players (20+ Players)
- Travel Ecommerce Market Share by Key Players (20+ Players)
- Food Service Ecommerce Market Share by Key Players (20+ Players)
Ecommerce Market Size and Forecast by Ecommerce Segments (Gross Merchandise Value Trend Analysis, 2019-2028)
- Retail Shopping (breakdown by clothing, footwear & accessories, health, beauty and personal care, food & beverage, appliances and electronics, home improvement, books, music & video, toys & hobby, auto)
- Travel and Hospitality (breakdown by air travel, train & bus, taxi service, hotels & resorts)
- Online Food Service (breakdown by aggregators, direct to consumer)
- Media and Entertainment (breakdown by streaming services, movies & events, theme parks & gaming)
- Healthcare and Wellness
- Technology Products and Services
- Other segments
Ecommerce Market Size and Forecast by Retail Shopping Sales Channel
- Platform to Consumer
- Direct to Consumer
- Consumer to Consumer
Ecommerce Market Share by Travel and Hospitality Sales Channel
- Market Share by Travel and Hospitality Sales Channel
- Aggregator App - Gross Merchandise Value Trend Analysis
- Direct to Consumer - Gross Merchandise Value Trend Analysis
Ecommerce Market Size and Forecast by Online Food Service Sales Channel
- Aggregator App
- Direct to Consumer
Ecommerce Market Size and Forecast by Engagement Model (Gross Merchandise Value Trend Analysis, 2019-2028)
- Website Based
- Live Streaming
Ecommerce Market Size and Forecast by Location (Gross Merchandise Value Trend Analysis, 2019-2028)
- Cross Border
- Domestic
Ecommerce Market Size and Forecast by Device (Gross Merchandise Value Trend Analysis, 2019-2028)
- Mobile
- Desktop
Ecommerce Market Size and Forecast by Operating System
- iOS/macOS
- Android
- Other Operating Systems
Ecommerce Market Size and Forecast by City
- Tier 1
- Tier 2
- Tier 3
Ecommerce Market Size and Forecast by Payment Instrument (Gross Merchandise Value Trend Analysis, 2019-2028)
- Credit Card
- Debit Card
- Bank Transfer
- Prepaid Card
- Digital & Mobile Wallet
- Cash
- Other Digital Payment
Companies Featured
- Agoda
- Amazon
- Argos
- Beat
- Bird
- bol.com
- Bolt
- Booking.com
- Box
- Busradar
- Cabify
- Cassidy Travel
- Cdiscount
- CityMapper
- ClickAndGo
- Coffee Island
- Coolblue
- Currys
- Dantaxi
- Deliveroo
- Delivery Club
- Dellos Delivery Diet
- Digitec
- DNS Shop
- Domino's
- E.Leclerc Drive
- eBay
- Efood.gr
- El Corte Ingles
- Elementaree
- Elgiganten
- Euro - Net's
- Expedia
- Expedia Group
- Felyx
- Ferryhopper
- Finnair
- Flipdish
- FlixBus
- Fnac
- Foodora
- FREE NOW
- G7 Taxis
- Galaxus
- Germanos
- Gett
- Glovo
- Gousto
- Harald Nyborg
- HelloFresh
- Hesburger
- HolidayCheck
- inDriver
- iTaxi
- ItTaxi
- Jet2holidays
- Jumbo Extra
- Jumia Food
- Just Eat
- Kayak
- Kotsovolos
- K-Ruoka by Kesko
- Lamoda
- Leroy Merlin
- Lidl
- Lieferando
- Lyft
- Lynk Taxis
- Manna
- Marks & Spencer ( M&S )
- McDonald's
- MediaMarkt
- MediaWorld
- Microspot
- Milanuncios Espana
- Mjam
- Momondo
- MoovitArgos Distributors
- Motonet
- Mymenu
- mytaxi
- NextPax
- Omio
- Ostrovok
- OTTO
- Ozon
- PideTaxi
- Pixmania
- Plaisio
- Poppy Mobility
- Public.gr
- Pyszne
- Rainbow Tours
- Rejseplanen
- ResQ Club
- RoveAmazon
- Ryanair
- Samokat
- SBB Mobile
- Shop Direct
- Smood
- SNCF Connect
- SWISStours
- T Hansen Gruppen
- Takeaway.com
- Taksi Helsinki
- Taxa 4x35
- Taxi E.U.
- TaxiClick
- Terg's Media Expert
- Tesco
- Thuisbezorgd
- Tiqets
- Too Good To Go
- Travelocity
- Travelplanet.pl
- Tripadvisor
- Tutu.ru
- Uber Taxi
- Uber Eats
- Unieuro
- Universal Versand
- Verkkokauppa
- Victor CabBilka
- Wehkamp
- WhimAmazon
- Wildberries
- willhaben.at
- Wolt Delivery
- Wolt Enterprises
- Yandex Food and Eats
- Yandex Taxi Amazon
- Zalando
- zooplus
For more information about this report visit https://www.researchandmarkets.com/r/l03vnx
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