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More closely looking at the numbers, internet markets dominated the scene and accounted for a shocking 69% of the total sales, or 225 billion euros. Alone with their 197.01 billion euro sales, the top 100 cross-border markets showed a notable 39.29 percent increase. Even more amazing, the top 10 markets accounted for approximately half of the turnover driven by the market.
“The results of our most recent analysis highlight how dynamically cross-border e-commerce is developing across Europe,” said founder of Cross-Border Commerce Europe Carine Moitier.
Consumers are choosing cross-border buying more and more, suggesting a promising future for both incumbent businesses in this quickly changing sector and new rivals.
The dynamics of the market will shift somewhat ahead as well. While cross-border GMV in Europe is probably going to increase—estimates show 97.3% of visitors will be cross-border by 2025—the share of marketplaces in general e-commerce GMV is predicted to somewhat decline from 69% to 67.9%. This indicates a maturing market.
One intriguing observation is that this expansion pattern is not unique. Cross-border e-commerce Europe observed earlier this year a 32% increase in 2023 over the year before. European online stores made 107 billion euros in cross-border sales total over that period.
Seeing this swift expansion of cross-border e-commerce in Europe makes it clear that businesses as well as consumers are seizing the opportunities this developing sector offers. The notable increase rates in the top markets not only reflect the industry’s resilience but also highlight the expanding trend of cross-border buying among European consumers.
