Slovakia

Slovakia

General Information

  • Population 5.5m
  • Population 15 + 4.6m
  • Online Population 4.6m
  • Area 49,035 km2
  • Currency EUR
  • GDP 104.1bn USD
  • GDP per Capita 19,071 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"41"},{"label":"Cash-based payments","value":"32"},{"label":"Bank transfer","value":"16"},{"label":"Wallets","value":"9"},{"label":"Other","value":"2"}]
Banked population
  • Slovakia 84%
  • Western & Central Europe 94%
  • World 67%
Credit card penetration
  • Slovakia 22%
  • Western & Central Europe 46%
  • World 19%
Internet penetration
  • Slovakia 85%
  • Western & Central Europe 91%
  • World 62%
Smartphone penetration
  • Slovakia 72%
  • Western & Central Europe 75%
  • World 70%

Slovaks love the convenience of online shopping. Over 83% choose to have their delivery sent to their home address, followed by the post office, or their workplace. A growing number are choosing to use a pickup point.

M-commerce is becoming increasingly popular so merchants thinking of entering the Slovakian market must ensure their site is optimized for mobile.

Slovakia is bringing in a new Electronic Invoicing System. Currently only local government and their suppliers must use e-invoicing, but in 2022 this is being rolled out to all companies.

Slovakia’s economy dropped by 5.2% in 2020 but is forecast to grow by 4.7% in 2021 and 4.4% in 2022 according to the IMF. Inflation also rose in 2020 by 2% and is expected to rise by 1.2% in 2021 and by 1.9% in 2022.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 2.5
2022 2.8
2023 3.1
2024 3.3
E-Commerce spending per capita ($US)
2021 466
2022 518
2023 568
2024 609
E-Commerce spending as % of GDP
2021 2.1
2022 2.2
2023 2.3
2024 2.4

Slovakia

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Airlines & Hotels: 35% | 38%
  2. Electrical Goods: NA | 14%
  3. Health & Beauty: NA | 9%
  4. Toys, DIY, & Hobbies: NA | 9%
  5. Food & drink: NA | 8%

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 13%
  2. Value of cross-border e-commerce ($US billion) – 0.3
  3. % of online shoppers who have shopped cross-border – 48%

Top 3 cross-border shopping origin markets

  1. Germany
  2. Czech Republic
  3. China
E-commerce % of total retail
  • Slovakia 21%
  • Western & Central Europe 17.6%
  • World 20%
E-commerce completed on a mobile device
  • Slovakia 57%
  • Western & Central Europe 43%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
[{"label":"Visa","value":"59"},{"label":"Mastercard","value":"41"}]
  • E-commerce market size ($US billion) 2.3bn USD
  • E-Commerce spending per capita ($US) 412 USD
  • E-commerce spending as % of GDP 2.0%

The information on our Insights pages has been compiled by us in cooperation with Datamatics and Wright & Brown. The data shown is partially owned by us and partially owned by GlobalData. © 2021 by PPRO Financial Ltd. No data and information can be used for any further publication without the explicit approval of PPRO.

Slovakia

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 PayU Type Bank transfer Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 2 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 Orange Money Type Wallet Regions Eastern Europe & the CIS, Middle East & Africa + 1 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 GoPay Type Wallet Regions Eastern Europe & the CIS, Western & Central Europe 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 Sporopay Type Bank transfer Regions Western & Central Europe VIAMO Type Wallet Regions Western & Central Europe Splitit Type Instalments Regions Asia Pacific, Eastern Europe & the CIS, Middle East & Africa + 3

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