E-commerce has continued to accelerate in 2021, generating strong double digit growth for the fifth year in succession. The pandemic has been key in sustaining this in 2020 and 2021; restrictions on movement and shop opening hours has shunted many consumers online for the first time, as well as increasing the average spend made by habitual users.
Transactions are obviously key to e-commerce, but the channel is becoming more sophisticated, with a nuanced service offer increasingly part of the retailer’s proposition. Live streaming and selling, for example, are becoming increasingly widespread in Latvia, with smaller retailers using this technology to fully demonstrate their portfolios online and even doing live auctions.
There is widespread consensus that the boom in e-commerce in Latvia is being driven by older consumers. Pre-pandemic, millennials were the key driver of value sales, but the crisis has forced older, even elderly, consumers to adopt and use these technologies.
E-commerce offers significant opportunity going forward. The acquired habit of buying online is set to remain in place after the pandemic, with consumers responding to the convenience and lower prices.
The leading players in e-commerce are pure players and not store-based retail brands. Although store-based retailers are expected to invest more in their e-commerce sites over the forecast period, using social media platforms and developing their delivery services and customer care, this is unlikely to change.
The growth of e-commerce in Latvia is set to be strong, but the country still needs better development of delivery services. 2020 and 2011 have seen a significant improvement in last-mile delivery methods, especially in rural areas, as result of the pandemic; this has encouraged a wider group of consumers to shop through e-commerce going forward.
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Understand the latest market trends and future growth opportunities for the E-Commerce (Goods) industry in Latvia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the E-Commerce (Goods) industry in Latvia, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
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.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!