PORTUGAL E-COMMERCE MARKET SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS (2023 - 2028)


Portugal E-commerce Market Analysis:

During the forecast period, it is anticipated that the Portugal E-commerce market will exhibit a Compound Annual Growth Rate (CAGR) exceeding 5.2%. The European E-commerce market has experienced rapid expansion in recent years, presenting significant potential for online retailers across various industries. Portugal is a developed economy with a substantial internet penetration rate, as indicated by the World Bank, with over 78% of the population utilizing the internet. This suggests that the awareness of online shopping is substantial and contributes to market growth.

The business-to-consumer E-commerce market in Portugal has been expanding rapidly, with younger generations dominating the market, and fashion and technology being two crucial market segments. Card payments and open invoicing through Multibanco are the primary modes of online payment. As a result, international retailers who accept card payments and provide Multibanco as an alternative option can reach most Portuguese internet customers.

Moreover, the government and the national E-commerce organization ACEPI are promoting E-commerce to individuals and domestic businesses. The government supports the Digital Trade Programme, which encourages online commerce, and the ACEPI provides tools for small and medium enterprises to construct E-commerce websites.

In recent years, European consumers, merchants, and governments have become increasingly concerned about sustainability, and internet retail has come under greater scrutiny. Concerns about the environmental consequences of cross-border purchases have grown, as have supply chain issues regarding human rights, labor conditions, and raw material collection.

Additionally, the latest trend reshaping the retail industry is the use of social media platforms for buying and selling. Social media platforms such as Facebook, Instagram, YouTube, TikTok, and others also hold a significant share in the sales medium and contribute to the E-commerce market in the country.

The COVID-19 outbreak significantly increased online product sales as companies and customers went digital due to governmental restrictions, lockdowns, and safety purposes. E-commerce advanced significantly, even among people over 60, during the pandemic. This transformation of buying behavior has compelled retail shops to adopt online sales channels in the country, fueling the country’s E-commerce market in the post-pandemic scenario.

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