E-commerce in Slovakia

E-commerce

E-commerce market

E-commerce has been a fast-growing segment  in Slovakia over the past several years. Revenue reached US$ 860 million in 2018, and is expected to reach US$ 1 billion by 2021, at an estimated annual growth rate of 8.5%. Slovak e-commerce has grown 15-20% in recent years, with an estimated 8,500 e-shops currently in business. Slovakia's low purchasing power means e-shops must draw customers away from traditional retail stores. Products most commonly bought through e-commerce include clothes, shoes, books, cosmetics, electronics, sporting goods and hobby products. E-commerce in Slovakia is generally weaker in real estate, artwork, food and beverages. The market's largest segment is electronics & media, with a market volume of US$ 324 million in 2018. There are currently 3.2 million e-commerce users in Slovakia, a number that is expected to grow to 3.6 million by 2021, which will represent 78% of the total population. According to The Slovak Spectator, Slovaks are avid online buyers, leading companies to outsource e-shops and increasingly using cloud services. Credit cards are not very popular among e-shoppers, as only 17% of purchases are made using one. On the other hand, 76% of shoppers use mobile payments when shopping online, and 33% prefer prepaid cards. As for preferred devices, 90% of online shoppers make their purchases using desktops, while 4% do it using smartphones, and 3% use their tablets. Furthermore, according to the data reported by Eshop World, the average user in Slovakia spends US$ 231 online per year, a number expected to increase to US$ 297 by 2021. Some popular e-stores include Bazos, Amazon, Ali Express, Heureka, Mall.sk, Hej.sk and Andreashop.