The European online consumer electronics market is on a steady growth trajectory, according to the first edition of the ‘Top 100 Consumer Electronics Retail Europe’ ranking by Cross-Border Commerce Europe. The report paints a promising picture for the industry, highlighting the increasing dominance of e-commerce and the rising popularity of recommerce within the sector.
E-commerce Drives Market Expansion
The report reveals that the online consumer electronics market in Europe reached a value of €90 billion in 2023. Looking ahead, analysts predict a significant increase of 19% by 2025, pushing the market value to an impressive €107 billion. This growth is primarily driven by the rising popularity of online shopping channels for consumer electronics. In fact, by 2025, it’s anticipated that half of all consumer electronics revenue in Europe will be generated through online sales.
Cross-Border Trade: A Flourishing Ecosystem
The report also emphasizes the flourishing nature of cross-border trade within the European online consumer electronics market. A remarkable 52% (€55.5 billion) of the projected online market value in 2025 is expected to stem from cross-border transactions. This signifies a seamless and interconnected European e-commerce environment for consumer electronics, offering a wider selection and potentially competitive pricing for consumers.
Online Electronics: A Major Player in E-commerce
The study positions online consumer electronics as the second-largest market share within the broader European online retail landscape, accounting for 11% of total online retail sales in 2023. This is only surpassed by the fashion sector, which currently holds a 15% share.
Amazon Takes the Lead in Online Market Share
Amongst the top 100 online consumer electronics sellers in Europe, Amazon emerges as the clear leader, capturing a substantial 18% market share. This translates to a significant revenue of €16.2 billion generated through electronics sales across Europe in 2023.
Recommerce: A Sustainable Growth Segment
The report sheds light on a fascinating trend within the online consumer electronics market – the growing prominence of recommerce. Recommerce refers to the refurbishment and resale of used electronics, offering a sustainable alternative for cost-conscious consumers. In 2023, the recommerce sector generated a noteworthy €7.7 billion, representing an 8.6% share of the total online consumer electronics market. Furthermore, analysts predict this trend to gain even more traction, with online sales of used electronics expected to reach €11.5 billion by 2025, capturing an estimated 11% share of the market.
Looking Ahead: A Thriving European E-commerce Ecosystem
The findings of the ‘Top 100 Consumer Electronics Retail Europe’ ranking point towards a dynamic and evolving European online consumer electronics market. The increasing adoption of e-commerce channels, the flourishing cross-border trade environment, and the rise of recommerce all contribute to a promising future for the industry. DMSMatrix will continue to monitor developments in this space and provide updates as they become available.