Romania’s online malls may reach EUR 1.3 bln in sales this year

The e-commerce sector has been one of the fastest-growing retail sectors in Romania and will exceed the threshold of RON 6 billion (EUR 1.3 billion) this year, according to an analysis by local financial consultancy firm KeysFin. The turnover of the companies active in the local e-commerce sector increased from RON 1.68 billion (EUR 373 million) in 2011 to RON 5.47 billion (EUR 1.2 billion) last year. The most significant development was marked between 2014 and 2015, when the business in this sector rose by over RON 2 billion (EUR 444 million), according to KeysFin. The cumulated net profits in this sector also increased from EUR 10.5 million in 2011 to EUR 52 million in 2015. However, the cumulated losses in the sector also increased, as some companies invested a lot of resources in developing their platforms and expanding their business. Romania had about 2,600 online retailers in 2011. The number has increased to 5,300 companies that have been active online this year. The number of employees in the sector also doubled from 4,600 to 9,900 in five years. The top players in the sector by turnover are Dante International, the owner of eMAG, with a turnover of EUR 382 million. Next come fashion retailer Fashion Days, and Studio Moderna, the owner of top-shop.ro. editor@romania-insider.com