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Czech Republic has the fastest-growing ecommerce in Europe

Monday 22 July 2019 | 01:21 PM CET

The Czech Republic’s ecommerce is predicted to grow 16% by 2021, more than in any other European market, according to J.P. Morgan.

The research shows that in 10 countries across Europe double-digit growth is expected between 2019 and 2021. The Czech Republic is expected to grow 16%, Italy 14%, and Spain 13.5%.

Other key findings:

  • mobile commerce is the main driver of growth in Europe; I the UK and the Czech Republic for example, mobile devices are currently the most preferred device for shopping online;

  • in Ireland, Norway and Sweden, the smartphone as shopping device is very popular among consumers;

  • cards are still the most used payment method in Europe (in 11 out of 18 countries cards were the number one payment method);

  • card payments are especially popular in Denmark (63.4% of ecommerce payments), Ireland (60%), and the UK (53%);

  • in Finland, Switzerland, and the Netherlands, bank transfers are a very popular payment method;

  • open invoicing, where consumers pay once the goods have been received, and direct debit payments account for 40% of online sales;

  • in Italy, almost a third of online purchases are done using digital wallets.

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