Having soared by more than a quarter in 2020, the rate of growth in e-commerce retail current value sales slowed significantly during 2021 but remained vigorous. The fact that the penetration rate of e-commerce in many categories was relatively low by Western European standards prior to the onset of the pandemic has been a major growth driver.
The surge in online orders that occurred in 2020 put considerable strain on logistics networks, particularly in grocery retail. This resulted in significantly longer delivery times, leading more grocery retail chains to partner with third party delivery services like Efood and Wolt.
The competitive landscape in e-commerce is quite fragmented in Greece, with Amazon.com the only player with a double-digit retail value share – almost twice that of its closest rival, eBay Inc.
The annual rate of growth in e-commerce retail current value sales will slip into single digits during the forecast period. The relaxation of COVID-19 restrictions and the gradual maturation of online demand will be the main drivers of this slowdown.
Strategic partnership will continue to proliferate in e-commerce during the forecast period. An example of this is Zackret using Kotsovolos Quick Points for click and collect.
The VAT exemption for imports of goods worth up to EUR22 was abolished in July 2021. As a result, all imports goods are now subject to VAT, which will negatively affect cross-border e-commerce.
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Understand the latest market trends and future growth opportunities for the E-Commerce (Goods) industry in Greece with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Sales of consumer goods to the general public via the Internet. Please note that this includes sales through mobile phones and tablets (i.e. m-commerce). E-commerce includes sales generated through pure e-commerce websites and through sites operated by store-based retailers. Sales data is attributed to the country where the consumer is based, rather than where the retailer is based. The definition of e-commerce is agnostic as to where actual payment takes place; if an order is initiated online, it is considered to be an e-commerce transaction, even if the order is ultimately paid for in-store (or elsewhere). As a result, all ‘click-and-collect’ and ‘collect-at-store’ transactions are counted as e-commerce sales. E-commerce excludes sales of: (a) Consumer-to-consumer (C2C) and business-to-business (B2B) sales, although please note that sales between businesses and consumers (i.e. B2C sales) on sites such as eBay are included; (b) Sales of motor vehicles, motorcycles and vehicle parts; (c) Tickets for events (sports, music concerts, etc.) and travel; (d) Sales of travel and holiday packages; (e) Revenue generated by online gambling sites; (f) Returned products/unpaid invoices; and (h) Internet sales from direct selling companies, as these are tracked in Direct Selling market size/shares. Example e-commerce brands include Amazon.com, Zappos.com, Apple.com, iTunes, Rakuten, Tesco.com, Dell.com, Coles Online, etc. 3rd Party Merchant sales through online marketplaces, such as Amazon.com, eBay.com and Walmart.com, are included and split out in shares. 3rd party merchants are the summation of sales that come from businesses that are present on an online marketplace (e.g. Amazon, Alibaba). Marketplaces are websites that allow multiple merchants to sell on the marketplace website, with the marketplace operator processing the transactions, but many marketplaces provide offer other services as to help with shipping, handling, payment, and product storage. The marketplace is not the merchant of record legally, but for the sake of shares, sales from 3rd part merchants are attributed to the marketplace brand operator.See All of Our Definitions
This report originates from Passport, our E-Commerce (Goods) research and analysis database.
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