Insights into the growth of Slovakian eCommerce

Economy

Slovakia is home to 5.43 million people with a total GDP of 89.77 billion USD and GDP per capita of 17,209 USD, which is expected to reach 21,067 USD by 2022.

Digital User Insights

There are currently 2.36 million online shoppers in Slovakia, who spend $251.89 USD online annually. Four years from now, an expected 3.68 million online shoppers will spend approximately $313.77 USD.

Internet usage

Dividing internet usageinto age groups gives a better picture of the Slovakian eCommerce market – 98% of 16-24 year olds, 91% of 25-34 year-olds and 83% 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 74% and 64% daily penetration rate, respectively.

Product Categories

Total Slovakian eCommerce revenue across all product categories is 822 million USD, and is expected to grow to 1.16 billion USD by 2022. Electronics & Media is currently the leading product category in Slovakia, accounting for 324.1 million USD market share, followed by Toys, Hobby & DIY, which generates 211.5 million USD in sales.

By 2022, Electronics & Media will still be the most purchased online category, with an estimated value of 450.9 million USD, and second favorite, Toys, Hobby & DIY will have an expected worth of 264.9 million USD.

Logistics

In 2016, Slovakia was ranked 41st in the World Bank Logistics ranking.

Preferred Online Payments

45% of Slovakian shoppers like to pay via mobile when shopping online.

Where does Slovakia buy from?

Germany supplies Slovakia with $12.9 billion USD in imports – ranging from cars to petroleum. Slovakia’s other key import partners are the Czech Republic ($11.1 billion), China ($5.89 billion), Poland ($4.25 billion) and South Korea ($4.11 billion).

Internet and Device Usage

Internet penetration in Slovakia is currently 80.2%, and should reach 81.5% by 2022. Smartphone penetration much less (57%), but is projected to grow to 63.4% in the next four years.

90% of online shoppers in Slovakia buy via desktop, a stark contrast to the amount of smartphone (4%) and tablet (3%) shoppers.

Advertising

In 2015, an estimated 21.9%ofSlovakian adspendwas spent on digital advertising.

Social Media

59% of people in Slovakia are active social network users, thanks to Facebook, Pinterest and YouTube which are the leading social networks.

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

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