eCommerce market in Slovakia

Slovakia is the 56th largest market for eCommerce with a predicted revenue of US$1,765.1 million by 2024, placing it ahead of Kuwait. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 7.1%, resulting in a projected market volume of US$2,323.3 million by 2028. With an expected increase of 8.2% in 2024, the Slovakian eCommerce market contributed to the worldwide growth rate of 7.4% in 2024. Like in Slovakia, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Slovakian eCommerce market. Hobby & Leisure is the largest market and accounts for 26.9% of the Slovakian eCommerce revenue. It is followed by Electronics with 20.8%, Fashion with 17.2%, Furniture & Homeware with 11.9%, DIY with 9.1%, Care Products with 8.4%, and Grocery with the remaining 5.7%.

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 Slovakian retail market, the online share is 9.5% and will increase by an average of 5.6% to 11.8% by 2028.

The biggest player in the Slovakian eCommerce market is alza.sk. The store had a revenue of US$301.4 million in 2023. Store rankings include every store that generates revenue in Slovakia. 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 Slovakia was considered.

The Slovakian eCommerce market in 2023 in terms of offered payment methods is fragmented and highly competitive with VISA (Cards) covering the largest share with 83.7% of all online stores checked. Other offered payment methods in the Slovakian eCommerce market in 2023 are Cash on delivery (Cash on delivery) with 83.7%, Mastercard (Cards) with 83.0%, and Bank transfer/cash in advance (Bank transfer) with 71.1%. With 52.6% Invoice (unknown) still has a considerable market share amongst the offered payment methods compared to VISA (Cards).

Despite Packeta's dominant position with 47.1% of online stores opting for its services, the Slovakian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Slovenská pošta, GLS, DPD, and Slovak Parcel Service, hold smaller but significant shares, contributing to a dynamic and fragmented market.