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

Economy

Bulgaria is home to 7.13 million people with a total GDP of 52.4 billion USD and GDP per capita of 7,392 USD, which is expected to reach 8,988 USD by 2021.

Digital User Insights

There are currently 2.58 million eCommerce users in Bulgaria, with an additional 860,000 users expected to be shopping online by 2021. Four years from now, these 3.44 million eCommerce users will spend an average of 225.56 USD online.

Bulgaria Online

Internet usage

Dividing internet usage into age groups gives a better picture of the Bulgarian eCommerce market – 97% of 16-24 year olds, 92% of 25-34 year-olds, and 88% of 35-44 year-olds log on daily. The older generations also log on regularly with 45-54 year-olds and over 55s showing a 79% and 74% daily penetration rate, respectively.

Bulgaria Usage

Product Categories

Total Bulgarian eCommerce revenue across all product categories is 536 million USD, and is expected to grow to 776 million USD by 2021. Fashion is currently the leading product category in Bulgaria, accounting for 229.3 million USD market share, followed by Electronics & Media, which generates 169.8 million USD in sales.

By 2021, Fashion will still be the most purchased online category, with an estimated value of 342 million USD, and second favorite, Electronics & Media, will have an expected worth of 233.5 million USD.

Bulgaria Revenue 1

Logistics

In 2016, Bulgaria was ranked 72nd in the World Bank Logistics ranking.

Preferred Online Payments

80% of Bulgarian shoppers like to pay via mobile when shopping online.

Bulgaria Payments

Where does Bulgaria buy from?

Germany supplies Bulgaria with 3.88 billion USD in imports – ranging from copper to cars. Bulgaria’s other key import partners are Turkey ($2.38 billion), Russia ($2.32 billion), Italy ($2.26 billion) and Romania ($2.05 billion).

Bulgaria Imports

Internet and Device Usage

Internet penetration in Bulgaria is currently 57.3%, and should reach 61.7% by 2021. Smartphone penetration is a little less (47.6%), but is projected to grow to 60.2% in the next four years.

89% of online shoppers in Bulgaria buy via desktop, a stark contrast to the amount of smartphone (5%) and tablet (3%) shoppers.

Bulgaria Devices

Marketing

In 2017, 215.93 million USD of Bulgaria’s ad spend will be spent on TV advertising.

Bulgaria Ad Spend

Social Media

32% of Bulgaria’s population are monthly active social network users, thanks to Facebook, YouTube, Google+ and Twitter, which are the leading social networks.

Bulgaria Social

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