In-Depth Analysis Technology

The Growth of Ecommerce in Greece: Trends and Insights

The COVID-19 pandemic has accelerated the growth of ecommerce in Greece, with more and more consumers turning to online shopping for the first time. In 2021, the trend has continued, and Greeks have become one of the most active ecommerce audiences in Europe.

Reasons for Using the Internet

The three most significant reasons for Greeks to use the internet are email, social media, and online shopping. In the first half of 2021, the increase in online shopping among Greeks reached an astonishing 22%, compared to the second half of 2019. This shift towards ecommerce has been a dominant trend in Greece.

Internet Use Across Age Groups

94% of Greeks are active internet users, with the pandemic accelerating the penetration of older age groups on the internet. The number of active internet users among Greeks aged 65 to 74 has increased by 23% over the past two years, making online shopping accessible to a larger section of society.

Popular Social Media Platforms

Facebook is the most popular social media platform in Greece, followed by Messenger and Viber. Instagram has overtaken YouTube in terms of new accounts, while TikTok has recorded the most significant increase in users, with a rise of 43% in the first half of 2021.

The Evolution of Ecommerce Markets in Greece

Greece has become one of Europe’s champions in adopting online shopping. Greek consumers buy a wide range of products and services. Clothing, electronics, cosmetics, and electronic devices are the most popular ecommerce categories. Electronic devices have seen the most significant growth, with a rise of 61%, followed by household items and furniture, which have seen a 40% increase.

The Average E-cart Value in Greece

In 2021, Greek consumers spent almost double the average amount spent online the previous year, with an average of 806 euros, compared to 473 euros in 2020. Consumers aged 35 to 44 have the largest e-cart value, spending an average of 944 euros in a one-semester period.

Popular Payment Methods for Ecommerce in Greece

Cash payment on receipt and debit cards remain the most popular payment methods. Cash payments have seen a significant increase, rising by 18%, and are now the preferred method, followed closely by debit cards. Bank transfers and Viva Wallet payments have also increased by 50%.

Electronic Transactions in Insurance Products

10.8% of Greeks bought insurance products online in the first half of 2021, after a significant increase of 112% in 2020. Customers who purchase insurance online are more comfortable with online transactions, with one in three making more than one online insurance purchase during the first half of 2021. The e-cart value for online insurance purchases is also higher, with an average of 1293 euros over a semester, compared to the general average of 806 euros.

Buying Car Insurance Online

Although only 11% of Greeks buy car insurance online, the number is increasing. More and more Greeks are discovering that they can buy the same coverage for up to 40% less online than through traditional channels. Car insurance comparison sites are also becoming increasingly popular, allowing customers to compare prices, purchase a package online, and pay for their insurance in easily-manageable monthly installments.

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