E-commerce in Lithuania

E-commerce

E-commerce market

According to a report by PPro, the Lithuanian e-commerce market value is estimated to be worth US$ 500 million and is growing at an annual rate of 12.2%. There are currently 1.41 million e-shoppers in Lithuania, with this number expected to increase to 1.85 million by 2022 (Statista). It is estimated that 18% of Lithuanian small businesses sell their products and services online and almost 10% use e-commerce platforms to sell abroad. On the other hand, foreign online stores already have a 36% share in the country. The average Lithuanian e-shopper spends US$ 393 a year online, with entertainment, electronic goods and clothing as the main categories. 33% of Lithuanians make an online purchase at least once a year. According to a survey by the Lithuanian postal service, the most common reason for Lithuanians not to shop online is the desire to examine the goods personally before buying. According to the Digital Economy and Society Index (DESI) 2018, although the number of internet users who buy online is still well below the EU average, there has been a 5 % increase and Lithuania gained two positions in the ranking compared to the previous year. About 70% of Lithuanian e-shoppers say home delivery is one of their top reasons to shop online, whereas when it comes to drawbacks of online shopping, 36% of Lithuanian mention the long delivery time (Gemius). Lithuanians pay for 48% of online purchases by using online bank transfers. 23% are paid for using a payment card, 14% with cash, 7% using an e-wallet, and 7% with various other payment methods (PPay). In 2017, 54% of all individuals used social networks in Lithuania. Facebook is the most used social network, with around 1 million users, followed by YouTube, Pinterest and Twitter. There are 420,000 Instagram users in Lithuania, of which 80% are aged 18-44.