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%

Slovakia

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 PaysafeCash Type Cash Regions Eastern Europe & The Commonwealth of Independent States + 2 Paysera Wallet Type Wallet Regions Asia Pacific + 5 Market relevance High PayU Type Bank transfer Regions Asia Pacific + 4 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 Masterpass Type Wallet Regions Asia Pacific + 5 Market relevance High Mobiamo Type Carrier billing Regions Asia Pacific + 5 Market relevance High Orange Money Type Wallet Regions Eastern Europe & The Commonwealth of Independent States + 2 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 G2A Pay Type Wallet Regions Asia Pacific + 5 NETELLER Type Wallet Regions Asia Pacific + 5 Sporopay Type Bank transfer Regions Western & Central Europe VIAMO Type Wallet Regions Western & Central Europe Splitit Type Instalments Regions Asia Pacific + 5

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