While the global online shopping market is booming, the Czech Rrepublic, an eastern European country, is also developing rapidly and has become the most popular e-commerce market in Europe. Its e-commerce consumption ranks first in Europe.
Since 2013, online shopping has been integrated into the lives of the Czech people, consumers ‘ shopping habits have gradually changed, and local supermarkets have shrunk in size.
By 2015, the Czech Republic had sold more than 117 billionKroons (about $4.8 billion) in goods and services through e-commerce platforms, an increase of 20% year-on-year; the total number of e-business buyers amounted to 6 million. In addition, the share of e-commerce in the Czech retail sector rose to 8.1%, with Czech consumers spending about 3 billion Euros on domestic online purchases, Czech e-commerce grew by 20 percent compared with 2014.
Before Christmas 2016, online sales in the Czech Republic hit a record 31.5 billion kronor ($1.2 billion), up more than 20 percent from the same period in 2015.
As of 2017, the number of Czech drone registrations had exceeded 400, with per capita consumption between 2000-5000 Kroons (about $77-192 trillion), and online sales of drones and food had increased significantly. More than 43％ of the country’s technology and non-food items are now sold online, according to the study.
At present, the most popular online procurement in the Czech Republic is electronic products, while the online sales of non-prescription drugs, clothing, home and horticultural supplies are also growing rapidly. Over the next few years, the apparel sector will become the Czech Republic’s best-selling electrical goods category, with an estimated value of $1.17 billion by 2021, according to the data.
In 2018, the Czech e-commerce market was worth 135 billion CZK (5.25 billion euros in total), twice times that of 2014, according to a report released by Market Research Institute study and Markets. Last year, 90% of Czech consumers made at least one online purchase.
The report notes that the growing popularity of e-commerce shopping in the Czech Republic is due to increased consumer trust in e-business, cybersecurity and many online stores.
The most popular payment method in Czech
Unlike other Europeans, the Czechs still prefer cash payments after delivery, rather than bank transfers.
According to the data, in 2017 more than 1/3 of Czech online buyers chose cash on delivery, 28% online physical stores to pick up payment, about 16% Choose credit Card payment, only 9% of customers use bank transfer.
Cash remained the preferred method of payment for Czech consumers, accounting for 62.1 % of total Czech payments last year, according to the report. But card usage has also been on the rise over the past four years.
Whether in terms of the number of debit cards in circulation or the volume of transactions, debit cards appear to be the most popular method of payment for bank cards by Czech consumers. The report shows a compound annual growth rate of 19.2% for debit card transactions.
However, credit cards and debit card payment methods are not popular in the Czech Republic, with an average of just 13 such bank cards per 100 people last year
The Czech Republic’s three largest e-commerce sites are now