BUCHAREST, Nov. 14 (Xinhua) -- The e-commerce market in Romania is expected to increase by 35 percent to some 2.8 billion euros (3.28 billion U.S. dollars) this year, as compared to 2016, beyond the initial 2.5 billion estimate, the Romanian Online Shops Association (ARMO) informed Tuesday in a release.
"The evolution of online trade January through September 2017, as well as the targets announced by the online shops for the most important shopping event of the year, Black Friday, have determined us to reassess on an uptrend the estimate regarding the value of online trade in 2017, to 2.8 billion euros," Florinel Chis, the executive director of the ARMO, was quoted as saying by official Agerpres news agency.
Romania is an important emerging market in e-commerce sector, posting an increase of 24.2 percent in 2015, and an impressive growth of 38 percent in 2016, the biggest growth rate in Europe, and more than double compared with the European average. Yet, Romania is still among the countries with the lowest share of people who shop online.
"The online commerce has a very good growth potential... we are expecting a value of 5 billion euros of the online trade until 2020," Florinel Chis added.
According to Digital Economic and Society Index (DESI) calculated by the European Commission, the economy's digitization rate, public services and digital competences included, is the most reduced in Romania as compared to the other EU members, but with a huge growth potential.
The main e-commerce players in Romania estimate there are over 5,000 online shops active on the market. The most popular product categories are consumer electronics & IT, fashion & beauty, home & deco and baby, kids & toys. (1 euro=1.172 U.S. dollars) Enditem