Ecommerce Spain

Ecommerce Spain is growing and mirrors its European counterparts in terms of growth. The Spanish ecommerce market is estimated to be US$28,665 million by 2024. With an increase in internet users and a strong economy, Spain’s ecommerce market has a lot of room for growth.

Spanish consumers have finally adopted e-commerce

Spanish consumers have finally adopted e-commerce, and are enjoying a range of benefits. While they still prefer brick-and-mortar retail, the growth of e-commerce in Spain has resulted in a shift in consumer behavior. In the first six months of 2020, Spain was the fourth largest country in Europe for e-commerce turnover, behind the UK with EUR236 billion and France with EUR112 billion. The growth in e-commerce can be attributed to the fact that consumers have become aware of new ways to shop and consume information. Spanish consumers have also become more health conscious, with an emphasis on nutrition and physical activity.

In addition, Spain’s tourism industry is a major factor in the country’s economy. In addition to shopping online, visitors can also book flights and accommodation online, which helps boost the country’s e-commerce growth. This has led the Spanish government to create a loan scheme of US$964.4 million to improve the e-commerce infrastructure of the country’s tourism industry. According to recent surveys, Spanish consumers are increasingly adopting e-commerce, particularly the mid-career population. This demographic has higher disposable income than younger consumers and is the most likely to buy online. In fact, the 35-to-44 age group has more online shoppers than the 45-54 age group.

As more consumers in Spain are getting access to the Internet, Spanish e-commerce is set to expand further and become a vital part of the Spanish retail industry. Several players in this sector are now operating in the country, and they are all expanding their international presence. The market in Spain is highly fragmented, and this will likely lead to more mergers and acquisitions.

As a result, Spanish e-commerce market is expected to grow at a 14.7% CAGR over the next few years. Its high penetration of the internet, increasing use of smart devices, and the expansion of omnichannel business models are all contributing factors in the fast growth of Spain’s e-commerce market.

Spanish e-commerce market is growing

The Spanish e-commerce market is growing at a rapid pace. This year, it will reach a value of US$21,388 million, and by 2024, it is projected to be worth US$28,665 million. This will be a 14.8% year-over-year increase. At present, the country ranks 13th on the global e-commerce market ranking. While Amazon is the most popular Spanish e-commerce site, other top players include El Corte Ingles (US$620 million) and Carrefour (France) – which came in third place with a value of US$507 million.

E-commerce in Spain has grown considerably in recent years, with omnichannel shopping taking off in the last few years. Although Spanish shoppers still prefer physical commerce, many have moved online to take advantage of the increasing number of online offers. In the year 2021, Spain is projected to rank 4th in the European e-commerce market, following the UK, France, and Germany. The Spanish e-commerce market is booming largely due to a new generation of consumers that have embraced the omnichannel shopping trend.

While the Spanish e-commerce market is booming, a few challenges still exist. First of all, Spanish consumers have high expectations for convenience. This trend has made delivery a priority, driven by social distancing and stay-at-home orders. In addition to that, delivery prices are another concern for Spanish consumers. For example, 44% of Spanish consumers say that delivery prices will be a barrier to a positive e-commerce experience in 2020. As a result, brands must take great care not to overprice consumers.

ACI Worldwide has produced a report on Spain’s e-commerce market, based on data collected from its eCommerce market study. The eBook details trends and statistics, and gives an in-depth analysis of the Spanish e-commerce market. It is available in English and Spanish.

In the year ahead, Spain’s e-commerce market will reach US$20.1 billion, up 41.0% from 2019 and a CAGR of 23.5%. By 2020, e-commerce will be responsible for 78% of all non-store retailer sales. Furthermore, the food and beverage sector is expected to grow by 67.4% in Spain, and e-commerce in foodservice will increase by 27.3% from 2016 to 2020.

Spanish e-commerce market is expected to reach US$28,665m in 2024

E-commerce is a significant aspect of Spain’s economy. By the end of this year, it is expected to be US$21,388m and it is predicted to rise to US$28,665m in 2024. Spain currently ranks 13th in the list of the world’s biggest e-commerce markets. Its user penetration is 60% this year and it is estimated to reach 76% in four years. While Amazon is undoubtedly the leading e-commerce platform in Spain, other players like El Corte Ingles and Carrefour are also doing well. In fact, Carrefour ranked third with US$507m in 2019.

Spain’s consumers are very environmentally conscious and care about the products they buy. More than 40% of their purchases are done by credit card, and the average person uses 1.06 cards. Digital wallets are also growing in popularity, covering nearly 30% of transactions. Consumers in Spain are optimistic about these digital wallets, and the country is home to the largest provider of digital wallets, PayPal.

Spanish e-commerce market resembles European counterparts

The Spanish e-commerce market is growing rapidly. It is a good example of cross-border e-commerce because of the high percentage of non-EU purchases. The country is currently the fourth-largest e-commerce market in the EU. Its cross-border e-commerce market is dominated by Chinese vendors. Over the past five years, China has increased its market share in Spain, while the UK has decreased its share of the market.

Spain has a large population, with over 40 million residents. However, the Spanish e-commerce market is not as mature as its European counterparts. As a result, many merchants have been forced to change their business models to accommodate the Spanish market. Most businesses in Spain rely on small and medium-sized enterprises for their success. In fact, 47% of the Spanish workforce is employed by companies with less than 20 employees. This makes small and medium-sized companies more vulnerable to weaker economies. In the last three years, the number of small and medium-sized companies decreased by more than four times compared to all other companies in Spain.

Despite these challenges, Spain’s e-commerce market is poised to grow over the next few years. A growing number of European online retailers are already targeting the Spanish market. But some challenges remain, however, including the COVID-19 regulations that will crimp sales growth by 2020.

Although Spain’s economy will eventually return to its pre-crisis structure, it will be impacted by the upcoming restructuring of the world economy. To be successful in this new environment, companies should focus on adapting to the new normal and finding opportunities to enhance their business performance.

China’s cross-border e-commerce strategy has included the localization of products. The Spanish market is a great example of this strategy, since Chinese consumers may have a more open appetite for Spanish products through e-commerce channels. A recent study conducted by Eurostat found that more than 90% of Spanish internet users watch videos on the Internet each month. Another significant change is the rise in the use of WhatsApp. Eighty percent of Spanish internet users now have a WhatsApp account and spend on average five hours on the service each week.