Bulgaria

Bulgaria

General Information

  • Population 7.0m
  • Population 15 + 5.9m
  • Online Population 4.9m
  • Area 110,994 km2
  • Currency BGN
  • GDP 68.6bn USD
  • GDP per Capita 9,919 USD
  • Card-based payments
  • Cash-based payments
  • Bank transfer
  • Wallets
  • Other
[{"label":"Card-based payments","value":"10"},{"label":"Cash-based payments","value":"74"},{"label":"Bank transfer","value":"1"},{"label":"Wallets","value":"14"},{"label":"Other","value":"1"}]
Banked population
  • Bulgaria 72%
  • Eastern Europe & The Commonwealth of Independent States 67%
  • World 67%
Credit card penetration
  • Bulgaria 14%
  • Eastern Europe & The Commonwealth of Independent States 18%
  • World 19%
Internet penetration
  • Bulgaria 71%
  • Eastern Europe & The Commonwealth of Independent States 78%
  • World 62%
Smartphone penetration
  • Bulgaria 60%
  • Eastern Europe & The Commonwealth of Independent States 60%
  • World 70%

Bulgaria is an Amazon-free country. The top three e-commerce sites have a combined market share of 15%, leaving a lot of room for other merchants.

The number of mobile phone users rose between 2020 and 2021 so merchants looking to market to Bulgarians should ensure their business is fully optimised for smartphones.

The outlook is rosy. One of the biggest problems merchants had to face was the potential amendment to the N-18 tax code which would have made it difficult for e-commerce. This has been removed.

Future e-commerce trends (2021-2025)

E-Commerce market size forecast ($US billion)
2021 1.2
2022 1.4
2023 1.6
2024 1.9
E-Commerce spending per capita ($US)
2021 180
2022 206
2023 244
2024 285
E-Commerce spending as % of GDP
2021 1.6
2022 1.7
2023 1.9
2024 2.0

Bulgaria

The E-Commerce Market

Top e-commerce segments 2019 | 2020

  1. Health & Beauty: NA | 22%
  2. Electrical Goods: NA | 18%
  3. Toys, DIY, & Hobbies: NA | 15%
  4. Homeware & Furniture: NA | 12%
  5. Airlines & Hotels: NA | NA

Cross-border e-commerce

  1. Cross-border proportion of total e-commerce – 9%
  2. Value of cross-border e-commerce ($US billion) – 0.1
  3. % of online shoppers who have shopped cross-border – 35%

Top 3 cross-border shopping origin markets

  1. Germany
  2. China
  3. Russia
E-commerce % of total retail
  • Bulgaria 6%
  • Eastern Europe & The Commonwealth of Independent States 6.3%
  • World 20%
E-commerce completed on a mobile device
  • Bulgaria 12%
  • Eastern Europe & The Commonwealth of Independent States 34%
  • World 53%

The Credit Card Split

  • Visa
  • Mastercard
  • Local Schemes
[{"label":"Visa","value":"15"},{"label":"Mastercard","value":"83"},{"label":"Local Schemes","value":"2"}]
  • E-commerce market size ($US billion) 1.1bn USD
  • E-Commerce spending per capita ($US) 165 USD
  • E-commerce spending as % of GDP 1.6%

Bulgaria

Local Payment Methods

BitPay Type Wallet Regions Asia Pacific + 5 Hyperwallet Type Bank transfer, Gift card, Prepaid voucher Regions Asia Pacific + 5 Market relevance High PayPal Type Wallet Regions Asia Pacific + 5 Market relevance High PaysafeCard Type Prepaid voucher Regions Asia Pacific + 5 Market relevance High Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High SEPA Direct Debit Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High Skrill Type Wallet Regions Asia Pacific + 5 Market relevance High Trustly Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 2 Market relevance High TrustPay Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Allied Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High Apple Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Boku Type Carrier billing Regions Asia Pacific + 5 Market relevance High DaoPay Type Carrier billing Regions Asia Pacific + 5 Market relevance High Google Pay Type Wallet Regions Asia Pacific + 5 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High Razer Gold Type Wallet Regions Asia Pacific + 5 Market relevance High SEPA Credit Transfer Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance High SWIFT Type Bank transfer Regions Asia Pacific + 5 Market relevance High GoPay Type Wallet Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance Medium Secure Remote Commerce (SRC) Type Wallet Regions Asia Pacific + 5 Market relevance Medium SEPA Instant Credit Transfers (SCT Inst) Type Bank transfer Regions Eastern Europe & The Commonwealth of Independent States + 1 Market relevance Medium Boloro Type Wallet Regions Asia Pacific + 5 EasyPay Type Wallet Regions Eastern Europe & The Commonwealth of Independent States ePay.bg Type Wallet Regions Eastern Europe & The Commonwealth of Independent States G2A Pay Type Wallet Regions Asia Pacific + 5 NETELLER Type Wallet Regions Asia Pacific + 5 Splitit Type Instalments Regions Asia Pacific + 5

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