In 2023, e-commerce sales increased below the inflation rate, by only 3%
Fueled by access to digitalization and the increasing income of the young population and digital natives, the e-commerce market in Romania is expected to maintain its upward growth trend in 2024. However, it faces ongoing challenges driven…
Fueled by access to digitalization and the increasing income of the young population and digital natives, the e-commerce market in Romania is expected to maintain its upward growth trend in 2024. However, it faces ongoing challenges driven by the local and regional socio-economic context, as indicated by the eCommerce Insights 2024 report conducted by MerchantPro, the local SaaS solutions platform for e-commerce.
“Since the pandemic began, we have been periodically analyzing the dynamics of the e-commerce sector in Romania. The market has experienced exponential growth in recent years, reaching maturity at an accelerated pace. Players in the Romanian e-commerce sector have demonstrated resilience, adaptability, and remarkable innovation. In addition to the real-time analysis based on data from active stores on our platform, the analysis presented in this report provides an overview of the online commerce market in Romania, incorporating data from a multitude of relevant sources and emphasizing emerging trends. Automations, the growth of mobile commerce and digital payments, AI and customization solutions, marketing trends, and the future of the Romanian market are described and analyzed, including insights from industry leaders," stated Arthur Rădulescu, CEO of MerchantPro.
MerchantPro Compass: Real-time analysis of local stores reveals an average sales growth of only 3% in 2023. Children's articles identified as the most dynamic market segment in 2023.
The analysis conducted by MerchantPro, based on data recorded from active online stores in both 2023 and 2022, reveals a sales growth of only 3% compared to the same period last year. In terms of the number of orders placed by customers this year, the growth remains moderate (+5.5%).
MerchantPro's analyzed data identifies Children's Articles as the most dynamic market segment, with the number of orders placed increasing by over 20%. For the first time in the last 3 years, the Fashion segment records contraction, with a decrease of -10% in the number of transactions.
Due to inflation and decrease in purchasing power, the average order value recorded by stores on the MerchantPro platform in 2023 was around 54 Euros, representing a 2.5% decrease compared to 2022 when the recorded level was 55.5 EUR.
“If we look at the budget allocated to online purchases, it has consistently increased, practically doubling its value in 2023 compared to 2018. On a market level, we are talking about an average expenditure of approximately 584 euros per buyer in 2023. However, the increased inflation has also affected purchasing power, leading to a change in buying behaviour. This has resulted in a greater demand for affordable products, promotions, and flexible payment options such as instalment payments. Buy Now Pay Later is starting to gain serious ground in Romania as an emerging payment option," adds Arthur Rădulescu.
