e-Commerce Market Analysis

The eCommerce market in Bulgaria

In Bulgaria is the 71st largest market for eCommerce with a revenue of US$712 million in 2020, placing it ahead of Luxembourg and behind Oman.

With an increase of 41%, the Bulgarian eCommerce market contributed to the worldwide growth rate of 26% in 2020. Revenues for eCommerce continue to increase. New markets are emerging, and existing markets also have the potential for further development. Global growth will continue over the next few years. This will be propelled by East and Southeast Asia, with their expanding middle class and lagging offline shopping infrastructure.

The eCommerce market includes online sales of physical goods to a private end user (B2C). Included in this definition are purchases via computer as well as mobile purchases via smartphones and tablets. Excluded from the definition of ecommerceDB are the following: digitally distributed services (e.g., travel tickets), online stores dedicated to digital media downloads or streams, online stores dedicated to B2B markets, and sales between private individuals (C2C) within the eCommerce market.

The biggest player in the Bulgarian eCommerce Market is emag.bg. The store had a revenue of US$52 million in 2020. It is followed by remixshop.com with US$37 million revenue and fashiondays.bg with US$24 million revenue. Altogether, the top three stores account for 15% of online revenue in in Bulgaria.

Store rankings are based on every store that generates revenue in in Bulgaria. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in in Bulgaria was considered.

One of the fastest-growing stores in the Bulgarian market is ikea.bg. The store achieved sales of about US$8.8 million in 2020. Its revenue growth amounted to 33% in the previous year.

Growth Champions:

Editorial Tipps:

Top online The eCommerce market stores in Bulgaria by eCommerce net sales 2020 in million US$ The table shows the stores that generate the highest revenue in the Bulgarian market. For this evaluation, only revenue created in in Bulgaria was considered. Basis are all shops on ecommerceDB that operate in in Bulgaria.

#	Store
1.	emag.bg	US$52m
2.	remixshop.com	US$37m
3.	fashiondays.bg	US$24m
4.	technopolis.bg	US$24m
5.	obuvki.bg	US$23m

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Revenue in 2020

US$712m

REVENUE

CAGR 2020-2024

16%

CAGR

Digital Market Outlook by Statista

The Digital Market Outlook presents up-to-date figures on markets of the digital economy. The comparable key figures are based on extensive analyses of relevant indicators from the areas of society, economy, and technology.
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Market expansion in in Bulgaria is expected to continue over the next few years, as indicated by the Statista Digital Market Outlook. It has been predicted that the compound annual growth rate (CAGR 20-24) for the next four years will be 16%. Compared to the year-over-year growth of 41%, this decrease suggests a moderately flooded market. Another indicator of market saturation is the online penetration of 35% in in Bulgaria; in other words, 35% of the Bulgarian population have bought at least one product online in 2020.

Five categories are considered by ecommerceDB. Fashion is the largest segment in in Bulgaria and accounts for 35% of the eCommerce revenue in in Bulgaria. This is followed by Electronics & Media with 29%, Toys, Hobby & DIY with 15%, Furniture & Appliances with 13% and Food & Personal Care with the remaining 8%.