Please Wait.....
Report
Belgium E-commerce Market - Growth, Trends, Covid-19 Impact, And Forecasts (2022 - 2027)
Market Report I 2022-06-01 I 100 Pages I Mordor Intelligence
The Belgium E-commerce market is anticipated to register a CAGR of 7.42% over the forecast period from 2022 to 2027. There has been a significant increase in the adoption of digital commerce in recent times as internet penetration has increased in the country. Further, companies such as Amazon expanding its services in the country have fueled the adoption of e-commerce.
Key Highlights
The International Trade Administration stated that, in 2020, there had been an increase in online purchases by 7.5%, with a turnover of USD 10.4 billion in Belgium. Further, regions such as Flanders, Wallonia, and Brussels have developed their procedures to promote the business as they offer incentives such as grants and tax cuts for e-commerce.
In Belgium, the E-commerce sector is regulated by the standard commercial law. In May 2021, Belgium announced to align with the EU e-commerce VAT package. As a result, all the B2C sales had to be charged VAT on a distance selling basis, and it also affected the imports e-commerce rules in the region. Further, the government plans to consider a roll-out of Digital Service tac (DST) of 3% on e-commerce.
The increase in e-commerce in the region has been influenced by early internet adoption and early internet infrastructure development. Also, with the pandemic's emergence, the region's e-commerce market has witnessed enormous growth as the lockdowns and Covid restrictions have forced the shoppers to adapt to online retail and shopping.
During the COVID-19 pandemic, card payments became the most preferred payment mode among Belgium customers. Moreover, a significant portion of people in the country makes online transactions through mobile phones, thereby indicating the acceptance and comfort of using mobile-based payments. However, when it comes to preference for paying a significant amount of money online, most of the customers in the country still opt for laptops and desktops for making transactions.
Key Market Trends
Increase in Internet Penetration Across the Country is Fueling the Growth of the Market.
With the increase in internet usage across the country, the penetration of online retailing is growing. According to the world bank, internet users in Belgium accounted for 91.5%, 90.3%, and 88.6% of the country's population for 2020, 2019, and 2018, respectively.
The availability and affordability of high levels of broadband and cable access for high-speed internet are aiding the growth of digital penetration, thus, driving the e-commerce market in the country. According to a survey done by Eurostat, the share of households with broadband access in Belgium accounted for 91% in 2020, which increased by 3% compared to 2019.
Further, with digitalization, the consumer's adoption of digital payments for products and services is increasing. Payment methods such as meal tickets, eco-checks, Google Pay, and buy-now-pay-later services have seen an increased adoption rate.
Customers are nowadays becoming smarter and buying products after conducting extensive online research. They compare prices across online and offline stores, and if some brands provide touchpoints, both offline and online, customers can look for coupons and shop wherever they find suitable.
Fashion to lead E-Commerce market in Belgium
With media exposure, growing awareness, and an increasing share of disposable income, the consumers in the country are looking forward to getting access to global fashion brands and their products.
Factors including the pandemic lockdown in the region have increased E-commerce's adoption of fashion in the country. Due to the mandatory closure of stores in the country, the adoption of E-commerce has increased, and further, with measures scaled back, the online sales still are considerably high.
Moreover, factors such as fewer digital barriers to entering the Fashion E-Retail business mean that merchants in the country have a significant opportunity to market, sell, and fulfill orders from across the country.
Further, in Belgium, second-hand buyers of fashion have increased. The Second-hand buyers in the country tend to be young and female. This has fueled the fashion e-commerce market in the region, and most of these transactions are done between the individual customer and seller using platforms such as Facebook Marketplace, 2dehands.be, E-bay, and many more.
Also, the final consumption expenditure of households on clothing across the country witnessed an increase till 2019. For instance, according to the OECD, the final consumption expenditure of households on clothing stood at EUR 9,003.3 million in 2019, up from EUR 8,424 million in 2015. However, due to the pandemic outbreak, the expenditure was reduced to EUR 7,290.3 million in 2020. However, the industry is expected to recover, leading to a rise in such spending, consequently supporting the regional market growth.
Competitive Landscape
In Belgium, the competition in the E-commerce market has increased as the customer's adoption of online sales channels has grown. This growth is aided by an increase in internet penetration. Further, brands such as Amazon, E-Bay, Coolblue, Bol.com, and many more expand their reach by providing customer-centric services that enhance customers' online shopping experience.
February 2022 - Dutch electronics e-commerce firm Coolblue has announced that it is planning to open a warehouse in Nivelles, south of Brussels, in the following months. Further, the company plans to create more than 100 jobs with the new warehouse and a new store planned.
November 2021 - Alibaba Group logistics arm Cainiao Network has opened its first warehouse Liege eWTP hub at the Liege Airport in Belgium. This warehouse serves an important role for the company to serve in the European Market.
Additional Benefits:
The market estimate (ME) sheet in Excel format
3 months of analyst support
1 INTRODUCTION
1.1 Study Assumptions and Market Defination
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness-Porter's Five Force Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Key Market Trends and Share of E-commerce of Total Retail Sector
4.4 Impact of COVID-19 on the E-commerce Sales
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Increased Internet Penetration Across the Country
5.1.2 Increased Adoption of Smartphones
5.2 Market Challenges
5.2.1 Lack of digital skills/ knowledge
5.3 Analysis of Key Demographic Trends and Patterns Related to E-commerce Industry in Belgium (Coverage to include Population, Internet Penetration, ecommerce Penetration, Age & Income etc.)
5.4 Analysis of the Key Modes of Transaction in the E-commerce Industry in Belgium (coverage to include prevalent modes of payment such as cash, card, bank transfer, wallets, etc.)
5.5 Analysis of Cross-border E-commerce Industry in Belgium (Current market value of cross-border & key trends)
5.6 Current Positioning of Belgium in the E-commerce Industry in Europe
6 Market Segmentation
6.1 By B2C E-commerce
6.1.1 Market size (GMV) for the period of 2017-2027
6.1.2 Market Segmentation - by Application
6.1.2.1 Beauty & Personal Care
6.1.2.2 Consumer Electronics
6.1.2.3 Fashion & Apparel
6.1.2.4 Food & Beverage
6.1.2.5 Furniture & Home
6.1.2.6 Others (Toys, DIY, Media, etc.)
6.2 By B2B E-commerce
6.2.1 Market size for the period of 2017-2027
7 Competitive Intelligence
7.1 Company Profiles
7.1.1 bol.com
7.1.2 Coolblue
7.1.3 Amazon
7.1.4 Zalando
7.1.5 Vanden Borre NV
7.1.6 Brico Group
7.1.7 BIRKENSHOP
7.1.8 Birbante
7.1.9 Qpon
7.1.10 Veepee
8 Investment Analysis
9 Future Outlook of the Market
- Not Sure / Need Reassuring
- Confirm Content
-
Content is provided by our partners and every effort is made to make Market Report details as clear as possible. If you are not sure the exact content you require is included in this study you can Contact us to double check. To do this you can:
Use the ‘? ASK A QUESTION’ below the license / prices and to the right of this box. This will come directly to our team who will work on dealing with your request as soon as possible.
Write to directly on support@scotts-international.com with details. Please include as much information as possible including the name of report or link so our staff will be able to work on you request.
Telephone us directly on 0048 603 394 346 and an experienced member of team will be on hand to answer.
-
- Sample Pages
-
With the vast majority of our partners we can obtain Sample Pages to support your decision. This is something we can arrange without revealing your personal details.
It is important to note that we will not be able to provide you the exact data or statistics such as Market Size and Forecasts. Sample pages usually confirm the layout or the Categories included in Charts and Graphs, excluding specific data.
To ask for Sample Pages by contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Check for Alternatives
-
Whilst we try to make our online platform as easy to use as possible there is always the possibility that a better alternative has not been found in your search.
To avoid this possibility Contact us through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346 and a Senior Team Member can review your requirements and send a list of possibilities with opinions and recommendations.
-
- Confirm Content
- Prices / Formats / Delivery
- Prices
-
All prices are set by our partners and should be exactly the same as those listed on their own websites. We work on a Revenue share basis ensuring that you never pay more than what is offered elsewhere.
Should you find the price cheaper on another platform we recommend you to Contact us as we should be able to match this price. You can Contact us though through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Discounts
-
As we work in close partnership with our Partners from time to time we can secure discounts and assist with negotiations, this is part of our personalised service to you.
Discounts can sometimes be arranged for speedily placed orders; multiple report purchases or Higher License purchases.
To check if a Discount is possible please Contact our experienced team through ‘? ASK A QUESTION’, support@scotts-international.com, or by telephoning 0048 603 394 346.
-
- Available Currencies
-
Most Market Reports on our platform are listed in USD or EURO based on the wishes of our Partners. To avoid currency fluctuations and potential price differentiations we do not offer the possibility to change the currency online.
Should you wish to pay in a different currency to that advertised online we do accept payments in USD, EURO, GBP and PLN. The price will be calculated based on the relevant exchange rate taken from our National Bank.
To pay in a different above currency to that advertised online please Contact our team and a quotation will be sent within a couple of hours with payment details.
-
- Licenses
-
License options vary from Partner to Partner as is usually based on the number of Users that will benefitting from the report. It is very important that License ordered is not breached as this could have potential negative consequences for you individually or your employer.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Global Site License
-
The Global Site License is the most comprehensive license available. By selecting this license, the Market Report can be shared with other ‘Allowed Users’ and any other member of staff from the same organisation regardless of geographic location.
It is important to note that this may exclude Parent Companies or Subsidiaries.
If you have questions or need confirmation about the specific license we recommend you to Contact us and a detailed explanation will be provided.
-
- Formats
-
The most common format is PDF, however in certain circumstances data may be present in Excel format or Online, especially in the case of Database or Directories. In addition, for certain higher license options a CD may also be provided.
If you have questions or need clarification about the specific formats we recommend you to Contact us and a detailed explanation will be provided.
-
- Delivery
-
Delivery is fulfilled by our partners directly. Once an order has been placed we inform the partner by sharing the delivery email details given in the order process.
Delivery is usually made within 24 hours of an order being placed, however it may take longer should your order be placed prior to the weekend or if otherwise specified on the Market Report details page. Additionally, if details have been not fully completed in the Order process a delay in delivery is possible.
If a delay in delivery is expected you will be informed about it immediately.
-
- Shipping Charges
-
As most Market Reports are delivered in PDF format we almost never have to add additional Shipping Charges. If, however you are ordering a Higher License service or a specific delivery format (e.g. CD version) charges may apply.
If you are concerned about additional Shipping Charges we recommend you to Contact us to double check.
-
- Prices
- Ordering
- By Credit Card
-
We work in Partnership with PayU to ensure payments are made securely in a fast and effortless way. PayU is the e-payments division of Naspers.
Naspers operates in over 133 International Markets and ranks 3rd Globally in terms of the number of e-commerce customers served.
For more information on PayU please visit: https://www.payu.pl/en/about-us
-
- By Money Transfer
-
If you require an invoice prior to payment, this is possible. To ensure a speedy delivery of the Market Report we require all relevant company details and you agree to maximum payment terms of 30 days from receipt of order.
With our regular clients deliver of the Market Report can be made prior to receiving payment, however in some circumstances we may ask for payment to be received before arranging for the Market Report to be delivered.
-
- By Credit Card
- Security
- Website security
-
We have specifically partnered with leading International companies to protect your privacy by using different technologies and processes to ensure security.
Everything submitted to Scotts International is encrypted via SSL (Secure Socket Layer) and all personal information provided to Scotts International is stored on computer systems with limited access in controlled environments.
-
- Credit Card Security
-
We partner with PayU (https://www.payu.pl/en/about-us) to ensure all credit card payments are made securely in a fast and effortless way.
PayU offers 250+ various payment channels and eWallet services across 4 continents allowing buyers to pay electronically, whether on a computer or a mobile device.
-
- Website security