MerchantPro Compass: The eCommerce market grows slow but steady

An analysis conducted by MerchantPro - a local SaaS platform for e-Commerce solutions - based on data recorded by online stores active on the platform, indicates a smooth but stable increase in sales in the first quarter of the year by 5.4% compared to the same period last year. This aligns with the slow growth level recorded by the MerchantPro Compass indicator in the number of transactions also in 2023 compared to the previous year (+5.5%). This indicates a slowdown in the growth rate in eCommerce, but maintains a positive and sustained dynamic.

“The local eCommerce market has reached the age of maturity - year by year, the increases are no longer spectacular, as we were accustomed. However, the market continues to grow steadily. The competition, on the other hand, is growing rapidly, especially from strong international competitors, including players from non-EU areas like Shein or Temu, whose rise is accelerating globally. In this context, merchants need to rely on an agile approach, new technologies such as automation, AI, personalization solutions, and expand their operations both horizontally and with new verticals. Concurrently, customer loyalty, brand building, and optimization of internal operations must become a focus to support strategic long-term development,” states Arthur Rădulescu, CEO of MerchantPro.

According to the analysis carried out by MerchantPro on data recorded by active online stores both in 2023 and in the first quarter of 2024, the January-March period registered an average sales increase of 5.9%, compared to the same period last year.

Regarding the number of orders placed by customers in this quarter, the growth remains moderate, at +5.4%, with the largest increase recorded in February 2024, when 14% more orders were placed than in February 2023.

The average value of orders recorded by stores on the MerchantPro platform in the first quarter of the year varies by +0.5% and remains at 54 Euros, similar to the same period last year and the average value for the year 2023.

At the sector level, the positive dynamics are maintained in emerging online sales segments, such as Jewelry, Beauty and Personal Care Products, and the Pharma sector, where there is high adoption that increasingly attracts pharmacies to online retail.

“The Pharma segment has special needs, dictated by the legal regulations for the sale of medications, but it is a niche with huge potential and in a larger zone of safety, not being affected by competition from major non-EU retailers. We have developed on MerchantPro specific functionalities for this market segment, such as integrations with dedicated ERP systems for Pharma and modules that ensure compliant non-prescription drug sales - OTC. These, alongside the extended functionalities from the platform, have allowed us to attract more pharmacies this year,” says Arthur Rădulescu.