eCommerce market in Spain

Spain is the 15th largest market for eCommerce with a predicted revenue of US$33,536.1 million by 2024, placing it ahead of Mexico. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 9.9%, resulting in a projected market volume of US$48,955.1 million by 2028. With an expected increase of 13.0% in 2024, the Spanish eCommerce market contributed to the worldwide growth rate of 10.4% in 2024. Like in Spain, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Spanish eCommerce market. Electronics is the largest market and accounts for 25.1% of the Spanish eCommerce revenue. It is followed by Hobby & Leisure with 21.1%, Fashion with 16.4%, Care Products with 10.6%, Furniture & Homeware with 10.3%, Grocery with 8.5%, and DIY with the remaining 7.9%.

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Spanish retail market, the online share is 12.2% and will increase by an average of 7.8% to 16.5% by 2028.

The biggest player in the Spanish eCommerce market is amazon.es. The store had a revenue of US$3,876.0 million in 2023. Store rankings include every store that generates revenue in Spain. 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 Spain was considered.

With 95.0% VISA the most commonly offered payment method of all online stores in the Spanish eCommerce market in 2023. Like VISA Mastercard with a share of 94.7% and American Express with a share of 41.5% the payment type Cards is the most common used by online retailers in in the Spanish eCommerce market in 2023. Other commonly used payment methods in that market are PayPal (E-wallets) with 83.2% and Bank transfer/cash in advance (Bank transfer) with 53.3% of stores offering that payment method to the clients.

Despite Correos's dominant position with 35.0% of online stores opting for its services, the Spanish eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including SEUR, UPS (United Parcel Service), DHL, and GLS, hold smaller but significant shares, contributing to a dynamic and fragmented market.