With 47.2 bn USD in transactions annually, Eastern Europe is the fourth largest e-commerce market in the world, trailing Asia-Pacific, North America and Western Europe by a significant margin. In contrast to more developed markets, where e-commerce growth has slowed, the relatively young e-commerce in this region offers significant opportunities for growth. E-commerce currently accounts for 1.6% of Eastern Europe’s GDP of 2,893 bn USD, and e-commerce growth in the region is expected to exceed 15% in the near future. With 362 million people over the age of 14 living in the region, 186 million of them, or around 50%, use the Internet. 58 million of these currently shop online, often using price comparison websites to get the best deal, and this is a figure which looks set to grow in coming years.
This report looks at the state of e-commerce and payment behaviour in the region and gives you insights to understand this fast-developing area.