Europe's e-commerce market in general and the Czech e-commerce market, in particular, can bring in enormous chances for Print-on-demand sellers. That is the reason why Printway officially launched our new factory in the Czech Republic. In this article, let's go deeper into the Europe market with significant data and information.
The Europe market overview
As of October 2021, Europe is currently ranked 3rd in the world in terms of population with 747,682,612 people.
With a total area of 22,121,228 square kilometers. 74.50% of the population lives in urban areas (556,684,039 people in 2019). The average age in the European region is 43 years.
In 2020, up to 91% of households in the EU-27 will use the Internet.
Some common holidays in this market are: Halloween, Christmas Day, New Year's Eve, etc. In addition, European countries also have their own holidays, and bold cultures with much potential for e-commerce sellers.
The Potential of the EU E-commerce Market in Print On Demand
E-commerce sales in Europe grew to 621 billion euros in 2019 and reached a value of 717 billion euros in 2020. The majority of online revenue is still being generated in Western Europe, accounting for around 70% of Europe's total online retail sales. Southern Europe, Northern Europe, Central Europe, and Eastern Europe show a much lower share of Europe's e-commerce market at 15, 7, 6, and 1% respectively.
The countries where the e-commerce industry accounts for a relative share of total retail sales are Germany (15.1%) and France (10%). Not surprisingly, these are the countries with the largest e-commerce in Europe. Other countries with high market share are Sweden and the Netherlands.
Since European countries share a common trading market, it is completely normal for EU consumers to buy from e-commerce companies that are not located in their own country. On average, a quarter of EU e-commerce revenue comes from cross-border activities. In contrast, cross-border e-commerce from outside the EU is a commonly used shopping practice. Forecast for 2022 forecasts further growth to 220 billion VND
It can be seen that e-commerce has become a bright spot in the European economy and is a lucrative market not only for consumers to access products but also an opportunity for sellers around the world to access them. this market!
Consumer behavior
In 2020, Sendcloud conducted a study of a total of 8529 consumers in the United Kingdom, Germany, Spain, Italy, France, Belgium, the Netherlands, and Austria. All respondents purchased the product online.
Transport
34% of online shoppers are not at all willing to pay a shipping fee when the order value exceeds 150 euros.
70% of online shoppers in Europe are likely to add another product to their cart to reach the free shipping threshold.
Delivery cost is the most important part of shipping for online shoppers, followed by speed of delivery and flexibility in shipping options.
Shoppers in Europe expect their orders to be delivered in 3.1 days; The average maximum time that they are willing to wait for a delivery is 4.4 days.
Return Policy
53% of online shoppers in Europe will usually return a product if they are not satisfied;
If they don't return a product, it's largely because returning is a big hassle for them (50%) or returning the product is more expensive than keeping it (44%)
European online shoppers assume that online retailers are primarily responsible for arranging and paying for the return shipment of their orders.
56% of Europeans always check the return policy before they decide to buy a product from an online store.
Some concerns of Europeans when buying
The main reasons for not ordering from abroad are excessive delivery costs (51%), potential customs costs (42%), and difficulty in returning goods (40%).
Notes when selling Print On Demand in Europe
Payment: Debit and credit cards are still the usual payment methods for online transactions, with the exception of shoppers in Italy. However, the habits of using payment methods in each country in Europe are also different. While Scandinavian users preferred PayPal, French online shoppers showed a higher preference for PayPal or similar services. In the Benelux region, mobile apps like Swish or MobilePay have gained a share of users. One in five online shoppers in the Netherlands already uses mobile payments to shop online, unlike their Belgian neighbors, with usage rates at around 10% by 2020. Therefore, sellers need to choose a payment method suitable for people in the European country that they are aiming for.
Shipping: Policies, fees, and order tracking are issues that concern Europeans. Therefore, when starting to fight in the market, sellers need to pay attention to this issue!
In short, Europe's e-commerce market is extremely potential for sellers who are ready to break out. To help sellers add to their collection of potential million-dollar markets, here are European market summaries. Hopefully, this will be a hugely lucrative market for you to exploit.
You can refer to the list of potential products here: https://printway.io/collections/all
Contact us to receive the most accurate and timely support from our team!
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