Fashion market in Greece

The Greek Fashion eCommerce market is predicted to reach US$1,616.6 million by 2024 and accounts for 17.2% of the total eCommerce market in Greece. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 5.1%, resulting in a projected market volume of US$1,972.1 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

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 Greek Fashion retail market, the online share is 47.2% and will increase by an average of 11.9% to 74.0% by 2028.

With sales in the Greek Fashion market, shein.com generated a revenue of US$234.0 million in 2023, which means it is the leading online store in this market. The Fashion ranking of Greece is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

The Greek Fashion eCommerce market in 2023 in terms of offered payment methods is fragmented and highly competitive with VISA (Cards) covering the largest share with 95.2% of all online stores checked. Other offered payment methods in the Greek Fashion eCommerce market in 2023 are Mastercard (Cards) with 95.2%, PayPal (E-wallets) with 79.0%, and Cash on delivery (Cash on delivery) with 76.6%. With 63.7% Bank transfer/cash in advance (Bank transfer) still has a considerable market share amongst the offered payment methods compared to VISA (Cards).

Despite ACS's dominant position with 39.3% of online stores opting for its services, the Greek Fashion eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Geniki Taxydromiki, ELTA, BOX NOW, and SpeedEx, hold smaller but significant shares, contributing to a dynamic and fragmented market.

Although Magento holds a commanding lead with 18.4% of online stores using the shop software solution, the Greek Fashion eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including WooCommerce, PrestaShop, OpenCart, and Shopify, which collectively hold a significant share of the market.