The Slovakian eCommerce Market will be worth 1 Billion USD by 2021 The Slovakian eCommerce Market will be worth 1 Billion USD by 2021

Slovakia eCommerce Insights |The Slovakian eCommerce Market will be worth 1 Billion USD by 2021

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Slovakia eCommerce insights

Insights into the growth of Slovakia eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled

 

Economy

Slovakia is home to 5.4 million people with a total GDP of 87 billion USD. GDP per capita is currently 17,439 USD and expected to reach 21,482 USD by 2021. Slovakia is ranked as the 64th richest country by the World Bank GDP per capita rankings.

Digital User Insights

There are currently 3.2 million eCommerce users in Slovakia, with an additional 400,000 users to be shopping online by 2021. These 3.6 million eCommerce users will represent 78% of the total population. The average user spends 231 USD online, which will grow to 297 USD by 2021.

Slovakia eCommerce Insights number of users in millions

Dividing internet usage into age groups, gives a better picture of the Slovakian eCommerce market. 98% of 16-24 years olds log on daily, 91% of 25-34 year olds, and 83% of 35-44 year olds. The older generations log on regularly with 45-54 year olds showing a 74% daily penetration rate, and 64% of those over 55 logging on daily.

Daily Internet Usage by Age Group Slovakia eCommerce

Product Categories

Total eCommerce revenue across all product categories is 746 million USD, expected to reach 1 billion USD by 2021. Electronics is currently the leading product category, accounting for 295 million USD market share. Toys, Hobby & DIY is second, accounting for 199 million USD.

By 2021, Electronics will still lead the charge, valued at 421 million USD. Toys, Hobby & DIY will also grow, reaching 253 million USD.  

Slovakia eCommerce Insights revenue in usd by product categories

Logistics

In 2016, Slovakia was ranked 41st in the World Bank Logistics ranking. 54% of Slovakia’s population reside in urban areas.

Preferred Online Payments

76% of shoppers used mobile payments when shopping online, and a further 33% used prepaid cards. Credit cards were also used online accounting for 17% of purchases.

Slovakia eCommerce Preferred Online Payment Methods

Where does Slovakia buy from?

Germany supplies Slovakia with 13.7 billion USD in imports. Other key import partners are the Czech Republic (11.8 billion USD), China (6.19 billion USD), Russia (5.99 billion USD) and South Korea (5.57 billion USD).

Slovakia eCommerce Insights Top 5 Countries that Slovakia imports from

Internet and Device Usage

Internet penetration in Slovakia is currently at 75%, and should reach 79% by 2021. Smartphone penetration is 54% and is projected to grow to 62% by 2021.  

90% of online shoppers in Slovakia shop online via desktop. 4% of shoppers make purchases via smartphone, and 3% made their most recent purchase via tablet.

Slovakia eCommerce Insights device used for most recent purchase

Marketing

Total Marketing spend in Slovakia has risen in recent years, as advertisers steadily invest more in digital advertising. Digital has grown to the second highest market spend reaching 55 million USD. Television is the highest market spend accounting for 115 million USD.

Slovakia eCommerce Insights advertising spend in recent years by medium

Social Media

Slovakia’s Social Media Penetration is 45% accounting for 2.46 million people in 2017, with this expected to reach 2.63 million people by 2021. Facebook is by far the leading social network. Twitter and LinkedIn are also popular.

Slovakia eCommerce Social Network Penetration in million users

For more market insights, check out the eShopWorld series of blogs covering a range of emerging eCommerce markets. 

*Insights derived from eShopWorld data, Statista, WorldBank, OECD and other industry sources.

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