Greece

Greece

General Information

  • Population 10.4m
  • Population 15 + 9.2m
  • Online Population 8.4m
  • Area 131,957 km2
  • Currency EUR
  • GDP 189.3bn USD
  • GDP per Capita 17,670 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"13"},{"label":"Cash-based payments","value":"54"},{"label":"Bank transfer","value":"6"},{"label":"Wallets","value":"26"},{"label":"Other","value":"1"}]
Banked population
  • Greece 86%
  • Western & Central Europe 94%
  • World 67%
Credit card penetration
  • Greece 12%
  • Western & Central Europe 46%
  • World 19%
Internet penetration
  • Greece 81%
  • Western & Central Europe 91%
  • World 62%
Smartphone penetration
  • Greece 63%
  • Western & Central Europe 75%
  • World 70%

Greeks are very price conscious, so internet shopping gives them the perfect way to compare prices at their own leisure, and they get the convenience in having their shopping delivered to their home.

Like other countries, the pandemic has made Greeks re-examine their lives and are showing it in what and how they make their purchases. Greeks are more likely to purchase items supporting the local economy or that are environmental conscious.

Greece’s economy dropped by 8.2% in 2020 but is forecast to grow by 3.8% in 2021 and 5% in 2022 according to the IMF. Inflation fell in 2020 by 1.3% but is expected to rise by 0.2% in 2021 and by 0.8% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 8.4
2022 9.0
2023 9.6
E-Commerce spending per capita ($US)
2021 787
2022 851
E-Commerce spending as % of GDP
2021 3.3
2022 3.4

Greece

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Electrical Goods: 22% | 38%
  2. Homeware & Furniture: 9% | 15%
  3. Health & Beauty: 17% | 6%
  4. Food & Drink: 10% | 5%
  5. Media & Entertainment: 7% | 5%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 7%
  2. Value of cross-border e-commerce ($US billion) – 0.5
  3. % of online shoppers who have shopped cross-border – 22%

Top 3 cross-border shopping origin markets

  1. China: 39%
  2. UK: 17%
  3. USA: 11%
E-commerce % of total retail
  • Greece 4%
  • Western & Central Europe 17.6%
  • World 20%
E-commerce completed on a mobile device
  • Greece 28%
  • Western & Central Europe 43%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Other
[{"label":"Visa","value":"50"},{"label":"Mastercard","value":"48"},{"label":"Other","value":"2"}]
  • E-commerce market size ($US billion) 7.7bn USD
  • E-Commerce spending per capita ($US) 723 USD
  • E-commerce spending as % of GDP 3.1%

Greece

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PayPal Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PaysafeCard Type Prepaid voucher Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High PaysafeCash Type Cash Regions Eastern Europe & the CIS, North America + 1 Paysera Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Direct Debit Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High Skrill Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Trustly Type Bank transfer Regions Eastern Europe & the CIS, North America + 1 Market relevance High TrustPay Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Allied Wallet Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High UnionPay Type Local payment card Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Apple Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Boku Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Google Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Masterpass Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High Razer Gold Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance High SWIFT Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance High WebMoney Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 1 Market relevance High AstroPay Type Prepaid voucher Regions Asia Pacific, Middle East & Africa, South & Central America + 1 Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & the CIS, Western & Central Europe Market relevance Medium Boloro Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 G2A Pay Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 NETELLER Type Wallet Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3 Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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