Insights into the growth of Czech eCommerce with payment methods, target audiences, marketing, social media, economy and logistics all profiled
The Czech Republic is home to 10.56 million people with a total GDP of 192.93 billion USD and is ranked as the 49th richest country, according to the World Bank GDP per capita rankings. Czechia’s GDP per capita is currently 18,534 USD and is expected to reach 22,910 USD by 2021.
Digital User Insights
There are currently 4.93 million eCommerce users in the Czech Republic, with an additional 410,000 users expected to be shopping online by 2021. Four years from now, these 5.34 million eCommerce users will spend an average of 635.60 USD online.
Dividing internet usage into age groups gives a better picture of the Czech eCommerce market – 93% of 16-24 year-olds, 89% of 25-34 year-olds, and 84% 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 75% and 64% daily penetration rate, respectively.
Total Czech eCommerce revenue across all product categories is 2.59 billion USD, and is expected to grow to 3.40 billion USD by 2021. Fashion is currently the leading product category in Czechia, accounting for 847.9 million USD market share, followed by Electronics & Media, which generates 789.4 million USD in sales.
By 2021, Fashion will still be the most purchased online category, with an estimated value of 1.17 billion USD, and second favorite, Electronics & Media, will have an expected worth of 935.6 million USD.
In 2016, the Czech Republic was ranked 26th in the World Bank Logistics ranking.
Preferred Online Payments
76% of Czech shoppers like to pay with credit card when shopping online.
Where does Czechia buy from?
Germany supplies the Czech Republic with 42.7 billion USD in imports – ranging from computers to cars. Czechia’s other key import partners are Poland ($12.7 billion), Slovakia ($9.2 billion), China ($8.06 billion) and the Netherlands ($7.32 billion).
Internet and Device Usage
Internet penetration in the Czech Republic is currently 76.9%, and should reach 78.2% by 2021. Smartphone penetration is a little less (63.9%), but is projected to grow to 68.8% in the next four years.
93% of online shoppers in Czechia buy via desktop, a stark contrast to the amount of smartphone (3%) and tablet (2%) shoppers.
In 2017, 420 million USD will be spent on TV advertising in the Czech Republic.
For more market insights, check out the eShopWorld series of blogs covering a range of emerging eCommerce markets.