Cyprus flag Cyprus: Buying and Selling

E-commerce in Cyprus

E-commerce

Internet access
Cyprus has a relatively small population of around 1.17 million, of whom 79% use the internet. It is estimated that in 2017 69% of individuals in Cyprus accessed the internet daily or more frequently, with 74% connecting at least once a week (Statista). 88% of Cypriots connect through mobile phones, compared to 69% who use laptops and just 37% who use tablets (Cyprusnewsreport). Cyprus ranks 21st among the 28 EU nations on the European Commission’s latest digital scoreboard, the Digital Economy and Society Index (Desi) 2018.However, according to the EU Commission report only 43% of Cypriots possess at least basic levels of digital skills (a level which is lower than the EU average). The most popular web search engines in Cyprus are Google (96.5%), Bing and Yahoo (1.9% and 0.8% respectively).
E-commerce market
Data from Eurostat shows that only 24% of Cypriots aged between 16 and 74 made online purchases in 2017 (the EU 27 average is 48%). Web-based trade remains relatively small in Cyprus, but is growing steadily: most companies have their own websites, and online banking is becoming increasingly popular. However, according to the Desi report, only 34% of individuals in Cyprus are currently using e-banking services and 39% shop online. The main e-shops on the island are Amazon, eBay and BestBuyCyprus. Amazon remains the most popular cross-border webshop in Cyprus. Cypriot consumers buy online to find products that are not available in brick and mortar shops. Price convenience is also one of the main drivers when shopping online. Cyprus has one of the highest percentage of Facebook users in Europe, estimated at 94%. Instagram counts 610,000 users, with over 80% of them being between 18 and 44 years old. Mobile is the preferred platform for internet and social media users.

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Latest Update: July 2022

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