The total online EU cross-border market reached a turnover of €237 billion (excluding travel) last year, a new report from Cross-Border Commerce Europe has revealed.
In its 6th edition, the report, which ranks the top 500 European e-commerce players, found that total online cross-border turnover jumped 32% year-on-year. Additionally, B2C online turnover for goods in Europe saw a 13% increase, reaching €741 billion.
IKEA continues to lead the way in the “TOP 500 Cross-Border Retail Europe”, a study supported by FedEx Express and Poste Italiane. Zalando, H&M, Lego and Zara compete the top five cross-border e-commerce players followed by Jysk, Lidl, Decathlon, Adidas and Notino.
The rankings were derived by evaluating four primary parameters. This included online cross-border sales from 15 Western European countries, Scandinavia and the United Kingdom, SEO indicators reflecting cross-border performance, cross-border score based on the number of active countries, and the proportion and number of cross-border visitors
According to the report, these top 10 entities represent 19% of the TOP 500’s total sales, with IKEA achieving €5.2 billion in cross-border turnover. Among other findings, the report reveals that the UK’s cross-border sales have fallen to a historical low of -1.8%, resulting in €27.5 billion, a slight decrease from €28 billion in 2022.
There is a noticeable shift within the TOP 500, with an 8% increase in brand manufacturers such as Lego, Nespresso, Adidas and Philips enhancing their direct-to-consumer channels.
The report warns, however, that the TOP 500 European marketplaces are losing ground to American and new Chinese contenders, including marketplaces and social media apps. It notes that China is expanding its marketplaces and platforms across Europe while social commerce platforms like TikTok Shop and Instagram are not just trends; they represent the most significant market disruption since the advent of the Internet. With this in mind, it is imperative for European sellers to embrace social commerce to remain competitive in the evolving retail landscape.
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