eCommerce market in Greece
Greece is the 34th largest market for eCommerce with a predicted revenue of US$9,273.3 million by 2023, placing it ahead of Chile. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 6.3%, resulting in a projected market volume of US$11,860.2 million by 2027. With an expected increase of 16.6% in 2023, the Greek eCommerce market contributed to the worldwide growth rate of 8.7% in 2023. Like in Greece, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Greek eCommerce market. Hobby & Leisure is the largest market and accounts for 25.6% of the Greek eCommerce revenue. It is followed by Electronics with 21.4%, Fashion with 17.8%, Furniture & Homeware with 11.6%, Care Products with 9.4%, DIY with 9.0%, and Grocery with the remaining 5.1%.
Market development
eCommerce revenue development in Greece
Greece is the 34th largest market for eCommerce with a predicted revenue of US$9,273.3 million by 2023, placing it ahead of Chile. Revenue is expected to show a compound annual growth rate (CAGR 2023-2027) of 6.3%, resulting in a projected market volume of US$11,860.2 million by 2027. With an expected increase of 16.6% in 2023, the Greek eCommerce market contributed to the worldwide growth rate of 8.7% in 2023. Like in Greece, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Greek eCommerce market. Hobby & Leisure is the largest market and accounts for 25.6% of the Greek eCommerce revenue. It is followed by Electronics with 21.4%, Fashion with 17.8%, Furniture & Homeware with 11.6%, Care Products with 9.4%, DIY with 9.0%, and Grocery with the remaining 5.1%.
eCommerce revenue development in Greece
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
eCommerce revenue growth in Greece
Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.
Source: ECDB analysis
Net eCommerce revenue split by sub-category
Note: Data shown is using current exchange rates.
Source: ECDB analysis
| 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | |
|---|---|---|---|---|---|---|---|---|
| Revenue (in mUS$) | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Growth (in %) | 95.9 | 48.8 | 53.5 | 5.3 | 74.6 | 38.4 | 76.3 | 27.1 |
| AOV (in US$) | 0.7 | 0.7 | 0.4 | 0.9 | 0.7 | 0.6 | 0.3 | 1.0 |
| CVR (in %) | 69.9 | 16.5 | 58.6 | 19.9 | 2.7 | 99.3 | 5.4 | 63.8 |
Top stores
Top five online stores in Greece by net sales 2022
The biggest player in the Greek eCommerce market is shein.com. The store had a revenue of US$162.7 million in 2022. Store rankings include every store that generates revenue in Greece. 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 Greece was considered.
eCommerce net sales generated in Greece in 2022
Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed
Source: Annual report, secondary sources, ECDB analysis
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Filtered revenue / share
eCommerce net sales refer to the year 2022
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Global revenue
eCommerce net sales refer to the year 2022
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Growth
eCommerce net sales growth refers to 2022/2021
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|---|---|---|---|
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US$900.0m
20.7% | US$8,300.0m | 8.3% | |
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US$550.0m
12.0% | US$4,600.0m | 12.4% | |
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US$470.0m
3.9% | US$1,190.0m | 33.6% | |
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US$430.0m
20.6% | US$2,122.0m | 18.0% | |
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US$370.0m
20.7% | US$1,814.0m | 12.6% |
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Payment Methods
Top 5 offered payment methods in the Greek eCommerce market
The Greek eCommerce market in 2022 in terms of offered payment methods is fragmented and highly competitive with VISA (Cards) covering the largest share with 95.9% of all online stores checked. Other offered payment methods in the Greek eCommerce market in 2022 are Mastercard (Cards) with 95.6%, Cash on delivery (Cash on delivery) with 79.8%, and Bank transfer/cash in advance (Bank transfer) with 77.8%. With 62.8% PayPal (E-wallets) still has a considerable market share amongst the offered payment methods compared to VISA (Cards).
Top 5 offered payment methods in the Greek eCommerce market
Note: A store can offer more than one payment method (Multi-pick), based on 387 stores in the Greek eCommerce market
Source: ECDB analysis
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Shipping Service Provider
Top 5 offered shipping providers in the Greek eCommerce market
Despite ELTA's dominant position with 45.0% of online stores opting for its services, the Greek eCommerce market in 2022 remains diverse and competitive. Several other shipping service providers, including ACS, Geniki Taxydromiki, SpeedEx, and DHL, hold smaller but significant shares, contributing to a dynamic and fragmented market.
Top 5 offered shipping providers in the Greek eCommerce market
Note: A store can offer more than one shipping provider (Multi-pick), based on 262 stores in the Greek eCommerce market
Source: ECDB analysis
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