Greece followed the moderate growth rates recorded in e-commerce throughout Europe in 2024.
According to the data of the European E-Commerce Report, published jointly by the Greek E-Commerce Association, E-commerce Europe and Euro Commerce, it is estimated that the online purchases of products and services in Greece will move close to 18.2 billion euros in 2024, showing an increase of 5% compared to 2023, when they amounted to 17.3 billion euros.
Compared to previous years, the growth rate shows a mild positive reaction, against an increase of 7% in 2020, 8% in 2021, 10% in 2022, 9% in 2023.
The percentage of online sales to GDP remained stable at 7.86% for 2024 compared to 7.87% in 2023 and increased from 7.22% in 2022.
Moreover, the percentage of consumers aged 16-74 who made an online purchase in 2024 remained stable at 58%.
Despite the mild growth in 2024, the comparison of the data of the last five years shows that e-commerce in Greece has recorded overall high performance, it has acquired the critical mass of consumers required for its further development, always in accordance with the prevailing market conditions in terms of consumer purchasing power, inflationary pressures and geopolitical developments.
Challenges and opportunities
In 2024, European e-commerce is expected to grow by 5%, indicating a positive change in market conditions.
As the report’s analysts pointed out, in 2024 the European e-commerce market still faces a mix of opportunities and challenges. These include inflation, uneven technological progress, adoption of more sustainable models and adaptation to new sustainability regulations.
In addition, EU-based companies face tough competition from non-EU players, coupled with a lack of fair enforcement of EU regulations.
Sustainability remains a top priority across Europe. Consumers are increasingly willing to pay more for environmentally friendly products, prompting businesses to adopt more sustainable practices such as reducing packaging waste, using recyclable materials and promoting circular economy initiatives.
