Spain Ecommerce Table of Contents
Spain is one of Europe's largest economies. Unfortunately, the recession has no little mercy and has already reached Spain. Its GDP is worth 1349.12 billion dollars. The demand is large, but the competition is therefore strong. When it comes to brands on the stationery market, consumers have a variety of options. Spain has many foreign brands in the shops, notwithstanding the affection of its society and native goods.
The Spanish e-commerce revenue is expected by the end of the year to reach US$21,388 million and by 2024 to reach US$28,665 million. The company is the 13th largest e-commerce company in the world. User penetration is projected to hit almost 76.8 percent in four years, at 60 percent this year. The undisputed favorite, as you can see, is Amazon. Net revenues in 2019 were 2.6 million U.S. dollars. The second-hand ElCorte Ingles produced significantly lower net sales of US$620 million. The third place that goes to Carrefour's is US$507 million. these top three are on the.es domain.
Fashion is the largest segment of Spanish ecommerce; 29% of eCommerce revenue is produced. Electronics & Media is accompanied by 26%. Toys, Hobby and DIY 18% ranked third, and Food & Personal Care are 15%. The last Mobel and appliances accounted for 11% of eCommerce sales.
The Spaniard can be referred to as a market culture, beyond hesitation. One of the biggest buying factors is price. There is a great influence impact on easy purchases, discounts, and consumer services. There are many opportunities in the Spain e-commerce market, with about 40 million people in Spain online. Spain's consumers are spending 460 euros on the Internet.
The Spaniards love domestic goods very much despite the obvious effects of globalization in this country and on the economy. The brand's success is one of the most important influences. This is a movement young people are behind, reaching new goods increasingly and are not guided by honesty for the brands they know.
More than 97% of young people between 16 and 24 are present on the web and the importance of e-commerce is greatly increased. Essentially, each transaction element must be clear and reliable to a Spaniard shopping on your website. From the beginning, how much and what to pay must be clear.
Environmental care is very critical for Spanish society. Consumers in this country are increasingly paying attention to the origin of a particular product and its environmental impact. The bulk of cross-border shopping is from Germany. Sales are nearly worth US$41 billion from this region. France is the second preferred nation, 33 billion US dollars. Then there is a purchase value of $26.2 billion from China, $19.7 billion from Italy, and $13.8 billion from the UK.
Cards rule the Spanish economy, over 40 percent of purchases are covered by this process. There are about 1.06 cards per capita, as with credit cards. Many financial suppliers will entrust Spaniards with credit card production on the financial market. Digital wallets are on the rise in addition to carts. This approach encompasses almost 30% of the sale. The ambitious approach of Spaniards to this payment route will bode for a knock-off by 2022.
PayPal is Spain's most common digital wallet. But new entrants Google Pay, Apple Pay, and Amazon Pay, are on the scene. Their business absorption is steadily increasing. Bizum is a Spanish application for consumers in making payments among bank accounts. It is built into bank applications and allows settlements in real-time. Bizum is another relatively recent alternative but is still gaining status in the Spanish market.
The number of people affected by e-commerce fraud is around 1%. It may come from the prevalence of highly secure methods cards and digital wallets. But such a low fraud percentage leaves many Spaniards careless, for instance, using online banking without using authentication tools, or making it worse by making payments on a public laptop.
More than half the Spaniards are involved online when it comes to social media. Social network users are 29 million people, meaning the penetration of this industry is 62%. The engaged social media users rose by 3.1 percent compared to January 2019. Spanish people spend almost 6 hours online, about 2hours on social media. Spain's top 3 social networks are YouTube, WhatsApp, and Facebook.
21 million users can be reached via Facebook ads. Around 97 percent use Facebook to create advertisements and posts on their phones, so keep this in mind. As far as Instagram is concerned, there are 16 million users and Twitter 7.50 million.
Madrid, Barcelona, Alicante, Bilbao, and Valencia are the key points of the Spanish logistics diagram. In this country, logistics companies offer logistics & supply chains, transportation management, logistics services to third parties, freight transport, packing, warehousing, warehousing and delivery, and pallet trucks. There is no noticeable master when it comes to suppliers. The biggest shipping is supplied by UPS - 19%. Then DHL 16% and GLS 9%.
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