Greek e-commerce remains safe and competitive, despite its growth in recent years. As he explains speaking to the Athenian-Macedonian News Agency o Makis Savvidis, vice president of the Hellenic E-Commerce Association (GRECA) and vice-president of the Athens Commercial Association (ESA), both the Greek e-Commerce Association and the state bodies monitor which irregularities occur and provide immediate solutions to ensure a consumer-friendly shopping environment.

At the same time, online shopping has become an integral part of the daily life of Greeks, with the penetration of e-commerce significantly strengthened after the pandemic. According to the conclusions of a report recently published by Nexi Greece, in 2023 consumers in Greece spent approximately 35 billion euros on online shopping, with the largest part of this, 17.5 billion euros, spent on physical purchases goods. The amount of 10.7 billion euros is spent on travel (reservations, tickets, etc.) and 6.7 billion euros on the purchase of services.

As online sales in Greece are on a continuous upward trajectory, in 2023 the turnover is estimated to have exceeded 17 billion euros, marking a 9% increase from 15.8 billion euros in 2022, according to the data of European E-Commerce Exhibition published by the Hellenic E-Commerce Association and E-Commerce Europe. The number of Greek electronic consumers is also increasing. Specifically, in 2023, 75% of Greek electronic consumers made online purchases, marking an increase from 70% in 2022 and 51% in 2019. According to Mr. Savvidis, e-commerce in Greece “has potential for further development as penetration remains at lower levels than other EU countries”.

Focusing on last year, Mr. Savvidis emphasizes that “it was very satisfactory”, however he mentions that “this year does not continue with the same momentum”. Businesses are facing new challenges and are being asked to “run” their digital transformation faster. According to him, further incentives must be given to Greek companies to develop their digital sales cross-border, in order to compete with corresponding European companies. As an important challenge for Greek e-commerce, Mr. Savvidis mentions the expansion of European e-shops that are gaining very large parts of the Greek market.

At the same time, the pole of attraction for Greek consumers continues to be the international online markets. According to Mr. Savvidis, global online markets offer convenience and variety, as they allow consumers to access products from all over the world. However, this global reach carries risks and pitfalls for consumers. “The Greek consumer chooses international online stores believing that they will have the same quality of service as the Greek-European ones that are subject to very strict legislation. For example, Asian market places have reached 7% of the share in the Greek online market. But, as many agencies abroad have confirmed, they do not apply the legislation, with the result that both the products ordered and the personal data of the consumer are exposed to risk,” emphasizes Mr. Savvidis.

Mr. Savvidis also adds that the European Federation of Electronic Commerce (Ecommerce Europe) in which he is a member of the Board of Directors and represents Greece through GRECA as well as many of the members of national associations located throughout Europe, recently issued an open letter to decision makers, enforcement authorities and stakeholders in general, both at EU and national level, stressing the urgent need to ensure a level playing field and effective enforcement of EU law to all e-commerce operators operating in the EU single market. Considering the very rapid development of some of these companies located outside the EU, the signatories of the letter urge decision-makers at EU level as well as at national level to act as quickly as possible to ensure all the necessary means to scrutinize the activities of companies that are not established in the EU with the same zeal as for companies already established and operating within the EU. At the same time they point out that if issues are identified, competent authorities should impose sanctions on companies that do not comply with the same determination that applies to businesses based in the EU in case of infringements. Finally, they call for the promotion and facilitation of deeper cooperation and coordination between EU member states and their authorities.

The dynamics of Greeks in electronic markets

As can be seen from the conclusions of a report recently published by Nexi Greece for e-commerce in 2023, online shopping is constantly gaining ground in the daily lives of Greeks. Specifically, physical goods account for 50% of Greek consumers’ spending on online shopping, followed by travel and services, representing 31% and 19% of online spending respectively, while over 90% of internet users in in our country make online purchases on a monthly basis.

Regarding the differences between the sexes in relation to their behavior towards online shopping, Greek men tend to buy online a little more, at 95%, although Greek women are not far behind (93%). When it comes to the generation gap in online shopping, the gap is quite narrow. Although Millennials (30-49) still “lead” online shopping at 96%, Gen X with 94% and Gen Z with 93% follow closely behind, while Baby Boomers (65-79) do not they are far away, with a percentage of 83%.

According to the same report, in 2023 consumers in Greece spent approximately 35 billion euros on online shopping, with the largest part of this, 17.5 billion euros, spent on purchasing physical goods. The amount of 10.7 billion euros is spent on travel (reservations, tickets, etc.) and 6.7 billion euros on the purchase of services. It is noted that of the 17.5 billion euros for the purchase of physical goods, 3.1 billion euros concern the purchase of electrical household appliances, 2.6 billion euros for white goods, while 2.4 billion euros were spent in 2023 by consumers in Greece for buying clothes online. At the same time, spending on footwear amounted to 1.7 billion euros, to 1.1 billion euros on the purchase of beauty products, to 1.1 billion euros on the purchase of ready meals and to 800 million euros on the purchase of pharmacy items. What are the monthly habits of Greeks when it comes to online shopping? Nexi’s report shows that clothing (48%), takeaway (43%) and beauty products (38%) are the top three product categories that are widely purchased on a regular basis. Of the 10.7 billion euros for travel, 4.7 billion euros were for the purchase of airline tickets, 3.7 billion euros for hotel reservations and 700 million euros for travel on charter flights and travel packages. In terms of services, of the 6.7 billion euros spent in 2023, 3.1 billion euros were for the purchase of insurance services, 600 million euros for online betting and another 600 billion euros for the purchase of tickets for cultural and sporting events.

Greeks seem to be “locally oriented” as almost half of them show a preference for shopping from local online stores. Specifically, 49% of internet users in Greece stated that they made purchases from local stores in 2023. The reasons are many. According to the report, in Greece internet users choose to shop from local businesses for the following reasons: 72% prices, 39% delivery options and 30% support of small/local businesses.

At the same time, Greek consumers show an increasing interest in the opportunities that exist beyond their borders. 51% of Internet users in Greece said they made an online purchase from a foreign website in the last 28 days of 2023. The wide range of countries where consumers can shop makes global online shopping even more attractive. Expanding global marketplaces such as Amazon and eBay have facilitated this transition by offering consumers something particularly attractive: convenience and comfort. Most consumers consider the ability to access a variety of options, combined with finding better prices, to be a significant advantage. According to the conclusions of the report, 52% of Internet users in Greece stated that the wide range of products is a key advantage. However, there are still some who are concerned about specific issues. In particular, 42% of consumers are concerned about the quality of the products, expressing misgivings or considering it to be a disadvantage.

Another interesting finding of Nexi’s e-commerce report is that Greek consumers often choose digital payment methods for their purchases. Thus, PayPal (38%) and credit cards (27%) lead as preferred payment methods, while cash on delivery (13%) comes in lower. Security (62%), speed (41%) and convenience (37%) are the main reasons Greek internet users trust digital payment solutions.