E-commerce
European digital commerce milestone approaching
July 26, 2021
Digital commerce in Europe is clearly taking deeper root and likely to hit a milestone this year in passing the 500 million transactions mark and a penetration rate of just under 60%, according to data from TradingPlatforms.com.
Digital commerce refers to consumer transactions via the Internet related to online shopping for products and services.
In 2021, Europe's digital commerce transaction value is expected to experience a 22.15% year-over-year growth, reaching $823.62 billion — higher than 2019's total transaction value, according to a press release on the data findings.
"Technological advancements in the past couple of decades have given digital commerce a much bigger influence than ever before. Its importance was further highlighted during the lockdowns of 2020 when it allowed companies, big and small, to survive despite the hardships imposed by the pandemic. The strength of the segment and its still bright future is clear to see with projections for 2021 already showing a promising rebound," Rex Pascual, editor at TradingPlatforms.com, said in the release.
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