eCommerce market in Lithuania

Lithuania is the 67th largest market for eCommerce with a predicted revenue of US$944.5 million by 2024, placing it ahead of Serbia. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 3.8%, resulting in a projected market volume of US$1,098.5 million by 2028. With an expected increase of 5.1% in 2024, the Lithuanian eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Lithuania, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Lithuanian eCommerce market. Hobby & Leisure is the largest market and accounts for 26.4% of the Lithuanian eCommerce revenue. It is followed by Electronics with 20.5%, Fashion with 16.9%, Furniture & Homeware with 11.8%, Care Products with 9.5%, DIY with 9.1%, and Grocery with the remaining 5.8%.

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 Lithuanian retail market, the online share is 7.2% and will increase by an average of 8.7% to 10.1% by 2028.

The biggest player in the Lithuanian eCommerce market is pigu.lt. The store had a revenue of US$128.9 million in 2023. Store rankings include every store that generates revenue in Lithuania. 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 Lithuania was considered.

The Lithuanian eCommerce market in 2023 in terms of offered payment methods is fragmented and highly competitive with Bank transfer/cash in advance (Bank transfer) covering the largest share with 72.9% of all online stores checked. Other offered payment methods in the Lithuanian eCommerce market in 2023 are Cash on delivery (Cash on delivery) with 65.3%, VISA (Cards) with 61.8%, and Mastercard (Cards) with 61.2%. With 48.8% Invoice (unknown) still has a considerable market share amongst the offered payment methods compared to Bank transfer/cash in advance (Bank transfer).

Despite DPD's dominant position with 54.4% of online stores opting for its services, the Lithuanian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Lietuvos Paštas, Omniva, Venipak, and Itella, hold smaller but significant shares, contributing to a dynamic and fragmented market.