Electronics market in Cyprus

The Cypriot Electronics eCommerce market is predicted to reach US$234.6 million by 2023 and accounts for 21.3% of the total eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 3.5%, resulting in a projected market volume of US$269.2 million by 2027. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Market development

eCommerce revenue development in the Cookers & Ovens market in Cyprus

The Cypriot Cookers & Ovens eCommerce market is predicted to reach US$8.3 million by 2023 and accounts for 11.5% of the Household Appliances eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2023-2027) will be 2.8%, resulting in a projected market volume of US$9.2 million by 2027. The Cookers & Ovens eCommerce market is a sub-market of the Household Appliances market. Further categories within the Household Appliances market are: Dishwashers, Other Household Appliances, Refrigerators, Small Kitchen Appliances, Vacuum Cleaners, and Washing Machines.

eCommerce revenue development in the Cookers & Ovens market in Cyprus

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Cookers & Ovens market in Cyprus

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

2020 2021 2022 2023 2024 2025 2026 2027
Revenue (in mUS$) 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0
Growth (in %) 30.8 73.8 31.7 8.8 3.9 2.2 68.5 33.3
AOV (in US$) 48.6 37.1 33.8 38.2 26.2 62.0 4.5 0.1
CVR (in %) 30.8 73.8 31.7 8.8 3.9 2.2 68.5 33.3
AOV: Average Order Value CVR: Conversion Rate

Online share

eCommerce online share of the total Cookers & Ovens market in Cyprus

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 Cypriot Cookers & Ovens retail market, the online share is 34.4% and will increase by an average of 2.1% to 37.5% by 2027.

eCommerce online share of the total Cookers & Ovens market in Cyprus

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

2020 2021 2022 2023 2024 2025 2026 2027
Online share (in %) 41.1% 32.8% 65.1% 62.5% 54.9% 53.3% 35.6% 35.8%

Market definition

Definition of the Cookers & Ovens market within the Electronics market

Market definition: Electronics > Electrical Appliances > Household Appliances > Cookers & Ovens The category Cookers & Ovens includes the online trade of gas ovens, electric ovens, double ovens, and more. This category does not cover range hoods and outdoor cooking appliances (e.g. grills, smokers, outdoor ovens). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Gas ovens
  • Electric ovens
  • Double ovens
  • Freestanding cookers
  • Built-in cookers
  • Cooking tops (e.g. ceran cooktops, induction cooktops)

Out-of-scope

  • Range hoods
  • Outdoor cooking appliances (e.g. grills, smokers, outdoor ovens)

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