Get ready to dive into the world of European cross-border ecommerce! In 2023, the online market saw a staggering turnover of 237 billion euros, a significant 32% increase from the previous year. European online stores alone accounted for 107 billion euros in cross-border turnover.
The numbers speak for themselves – in 2022, European cross-border ecommerce was valued at 179 billion euros, with online stores generating 105.5 billion euros in cross-border turnover. But the growth didn’t stop there, as last year saw a 1.4% increase, bringing the total turnover to 107 billion euros.
Discover the Massive European B2C Ecommerce Landscape
These insights are brought to you by the 6th edition of the ‘TOP 500 B2C Cross-Border Retail Europe’ by Cross-Border Commerce Europe. This exclusive annual ranking of the top 500 European cross-border online stores excludes travel.
Did you know? 32% of all European online sales were driven by cross-border transactions.
The report goes on to reveal that the total online B2C turnover in Europe hit a whopping 741 billion euros, marking a 13% increase from 2022, with 32% of that coming from cross-border sales.
Uncovering the Trends in Cross-Border Ecommerce
While German online stores soared with 43 billion euros in cross-border turnover (a 28% increase), the UK witnessed a slight decline of 1.8%, reaching 27.5 billion euros. However, growth was the name of the game for other European markets – French online stores crossed borders to generate 32 billion euros (up by 30%), Spanish stores reached 18 billion euros (up by 50%), and Dutch online stores saw a 45% increase, hitting 7 billion euros.
The Rise and Fall of Top 500 Online Stores
The top 500 online cross-border sellers in Europe experienced a turnover decrease due to economic fluctuations and competition from American and Chinese brands. Their Gross Merchandise Volume (GMV) dipped by 18%, totaling 50 billion euros in 2023.
Fun fact: Ikea took the crown with an impressive 5.2 billion euros in cross-border sales.
And the top 10 players in this market segment accounted for a solid 19% of the total sales among the top 500 online sellers.
