Greece is the birthplace of theatre, philosophy, Olympic Games, Politics and also Economics. Unfortunately, these perks have not helped out in the current situation of Greece. The economic situation has been full of struggles in the last years but the market of E-Commerce is worth considering aside.
Greece has a population of 11 million right now and less than half of the Greeks are regular internet users compared with European countries which have two-thirds of its population of active users online. More than 40 percent of Europeans shop online but about 20 percent of the Greeks are shopping online. The payment types are a problem since people refuse to use credit cards online and want to pay in cash. Also, the islands can create an obstacle for the delivery systems within.
The country has shores in the Mediterranean, Aegean and Adriatic sea and is part of the European Union which gives it certain privileges in the trading processes. The E-commerce market has a growth trend in the last years though. The most important sectors of the Greece economy are:
- Wholesale and retail trade
- Food Services
- Public administration, defense, education, human health, and social work activities
- Real estate activities
Greek E-Commerce Market
Greece’s financial crisis had a radical impact on consumer habits for sure. Now the Greeks are searching for bargains online to avoid paying higher prices. In conclusion, the consumption in the e-commerce market per consumer has reached 1,347 Euros which is above the regions average spending which is 864 Euros.
Greca is a Greek-based organization which has joined E-commerce Europe. E-commerce Europe functions as an umbrella organization for e-commerce which includes associations and companies selling products or services online. GRECA includes more than 125 online retailers within Greece. The key activities of GRECA are networking, education, state and other national body connected lobbies and also building trust to consumers. Their purpose is to preserve and promote the common interests of the general sector of E-commerce and the members.
GRECA cares for the development of cooperation among its members and the sector of E-Commerce. In order to reinforce good practices, GRECA has educational programs on e-business issues and promotes E-Commerce to the general public with the support of the industrial players.
The Famous Numbers Have Arrived!
Greece is one of the fastest growing online markets (B2C) and the members of GRECA has reached from 22 in 2012 to more than 125 in 2014 according to E-Commerce Europe’s report. The numbers indicate that in 2014 online shopping has increased by 9.3 percent considering last year’s stagnation and reached 29.5 percent.
- From 2010 to 2014, the users who have never made purchases over the internet have decreased by 32 percent.
- When we look at the users who have made purchases over the internet 53.3 percent is men 46.7 is women. Women percentage has shown improvement between 2012 and 2014 also.
Also here are some key numbers on Greece E-Commerce market:
There has been an increase in the goods and services bought online in the period between 2013 and 2014:
- Medicine by 101.9 %
- Clothing and footwear 41 %
- Accessories and peripheral equipment (hardware) computer 36.1%
- Electronics 24.9%
There has been a decline in the goods and services bought online in the period between 2013 and 2014:
- E-learning material 42.9 %
- Movies and music 34.5 %
- Tickets for events ( concerts , theater , cinema etc . ) 20.4 %
- Books ( in electronic form or otherwise ) , magazines , newspapers 17.6%
- Travel services ( flights , car hire etc . ) 14.7 %
- Household items (furniture , toys , art , electrical household appliances etc . ) 14,1 %
- Accommodation (hotels , rooms , apartments etc . ) 3.9 %
Payment type distributions are:
- Cash 3.7%
- Debit or credit cards 37.3%
- Pre-paid card or account 22.3%
- Transfer money from online banking 4.8%
Shopping from domestic enterprises are preferred by 73.3 percent of the consumers whereas other European Union countries are preffered by percent of the consumers. Also countries from outside of Europe are preffered by percent of the consumers.
Greece is going through hard times with the economical problems going on. The E-commerce market turns out to be an exit for the consumers in these times, considering the bargains online. This lucky turn creates a very positive effect over the E-Commerce market of Greece. The geopolitical location of this country enables it to have a key importance for e-commerce but since the economical environment is not very solid yet, it is possible that this potential might have to wait for its turn.