Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have s disabled. For the best experience of this website, please enable s in your browser

We'll assume we have your consent to use s, for example so you won't need to log in each time you visit our site.
Learn more

Europe to overtake UK ecommerce growth

The UK’s ecommerce market is expected to grow by 9% a year to reach €231.2bn (£208bn) by 2021, but many European Union markets are likely to outstrip this growth rate.

Research from investment bank JP Morgan shows the UK is currently the biggest ecommerce market in Europe – representing more than 30% – and is worth €178.5bn (£160.6bn).

France follows, at €81.7bn (£73.5bn), and Germany, at €73bn (£65.7bn). Together they represent a third of all ecommerce activity in Europe.

JP Morgan predicted the UK is set to maintain its position as the largest ecommerce market in Europe, but warned that its “growth may be outstripped by 10 other European countries”, including:

  • Czech Republic (16%)
  • Italy (14%)
  • Spain (13.5%)
  • Norway (13%)
  • Portugal (12%)
  • Finland (11%)
  • the Netherlands (11%)
  • France (11%)
  • Denmark (11%)
  • Poland (10%)

Ray McDonnell, managing director at JP Morgan Merchant Services Europe, said: “While the UK’s ecommerce market will remain healthy, this year’s exit from the EU and the maturity of the market may slow growth.

“We expect stronger growth to occur in newer online economies like Italy and the Czech Republic, which have the conditions for significant market expansion,” such as its high ratio of online stores per capita.

JP Morgan added that mobile commerce is set to be a main driver of ecommerce growth across Europe, expected to grow 20% per year to €188.8bn [£169.8bn] by 2021.

McDonnell concluded: “Card payments remain UK consumers’ favourite when it comes to buying online, but paying via a digital wallet app is becoming increasingly popular.”

JP Morgan analysed ecommerce and payment trends in 34 countries worldwide, including 18 in the European Union. 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.