An analysis carried out by MerchantPro – a local SaaS solution platform for e-Commerce – on the data reported by online stores operating in 2024 and the first half of the previous year, shows an increase in sales that more than 9% in the first half of 2024 compared to the same period last year. The positive energy is mainly due to the evolution of the second quarter, which saw a sales increase of more than 12%. From the point of view of the number of orders placed by customers in the first half of this year, the growth is stable, the same as the value of 2023 (+ 6.71%).
During April-June 2024, stores operating on the MerchantPro platform reported a 12% increase in the total value of goods sold, compared to the same period last year. The number of orders increased by 7%, and the average order value saw an increase of almost 5%, reaching 54 euros.
In the first quarter of 2024, growth was 6% both in terms of the number of transactions and revenue levels, with the average residual value the same as in the first three months of 2023, at 53 euros.
“The return to a growth rate of more than ten percent in the second quarter shows promising strength for the e-commerce market in 2024. On the other hand, consumers are relaxed about the possibility of recession and are willing to spend money online, on the other hand, retailers have begun to adapt to market changes and support their growth with different strategies such as internationalization, omnichannel expansion, programs trust complex, and investments to improve the customer experience in the online store. Arthur Radulescu, CEO of MerchantPro.
Domain Analysis: Moderate evolution, without unexpected changes
In the first half of the year, the examination of the parts shows a moderate evolution, with weak contractions or moderate growth in the main parts. Compared to the same period last year, the biggest increase was recorded in the number of orders in the “Medicine and Personal Care” segment, +20%. Sales increased by 30%.
While the number of orders for “Sporting Goods” and “Electronics” remained stable, the “Fashion and Home & Deco” sectors experienced a slight decrease.
In the “Baby Products” segment, revenues increased by more than 8%, while the number of orders remained the same, with growth supported by a strong average price.
Automation and Artificial Intelligence, Customer Loyalty, Diversification of Business Models, and Increased Competition are some of the Big Trends and Challenges Emerging in the Local E-Commerce Market in the First Half of the Year.
Expectations of market development are supported by real strength from the first half of the year. Romania’s eCommerce market continues to grow, fueled by digital access and the rising incomes of young people and digital natives, but e-commerce has reached maturity. Year-on-year growth is moderate, and competition is increasing, especially from strong international competitors, two EU brands and, in the last 12 months, non-EU players such as Shein or Temu, whose worldwide rise is increasing rapidly.
“The last 4 years have been very good for the Romanian e-commerce market. If this epidemic has led to the creation of a few hundreds of new online stores on our platform and the entire sector of -Commerce reports growth, starting in 2023. , growth has slowed down significantly, as expected, and prospects for long-term stability are promising,” it says Arthur Radulescu, CEO of MerchantPro.
In this context, among the trends that mark the first half of 2024, shown on the MerchantPro platform, are merchants’ investments in automation and AI solutions to reduce human activity, increase productivity, and reduce errors, as well as personalize the shopping experience. AI-based product recommendations, generating content for product catalogs using AI technologies, chatbot support solutions, or automated versions.
Emphasis on speed, ease, and efficiency of the shopping process are important factors when it comes to online shopping. Fast and easy-to-use platforms, improved checkout processes, and clear links contribute to increased rankings and customer satisfaction. In addition, the integration of automated solutions allows for operational efficiency and profit growth, as well as greater adaptability and increased speed.
At the beginning of 2024, MerchantPro launched eCommerce Insights 2024, a comprehensive analysis in the form of a report that provides an X-ray of the local eCommerce market, explaining trends and trends, as well as predictions and opinions from industry leaders. industry.
About MerchantPro
MerchantPro is a project of ShopMania Net, dealing with eCommerce entrepreneurs in Romania and Europe, with competitive eCommerce performance, professional support services, and solutions designed for the specific needs of developers development.
The MerchantPro platform is environmentally friendly and has over 15 years of market experience. Over the past two years, MerchantPro has consolidated its presence in the domestic and international markets, with around 2000 stores operating in Romania and an increasing number in Western and Southeastern Europe.
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* This is a print release.
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