E-commerce in 2023 to reach 2.11% of Bulgaria’s GDP of the same year
Source：The Bulgarian News Agency (BTA)
From：Taiwan Trade Center, Sofia
Update Time：2024/04/11
E-commerce in 2023 will reach a share of 2.11% of Bulgaria's GDP, while in 2022 this percentage was 1.92, said the creator and organizer of the Balkan eCommerce Summit, Nikola Ilchev, at a briefing at the National Press Club of BTA, referring to three studies. The average value of goods ordered online in a calendar year has changed. In 2023 it was EUR 680, while in 2022 it was EUR 555.
Ilchev said that the Balkan eCommerce Summit will be held on April 4 and 5 in Arena Sofia, and guests from Central and Eastern Europe will attend the event. The forum will present businesses with the opportunity to learn first-hand the trends and innovations in e-commerce.
"The dynamics clearly show that the percentage of people who either open their own online store or start selling abroad is constantly growing," stated Hristo Radichev from Mediapost Hit Mail. He added that more than a third of merchants who sell online in the CEE region expected 20% or more revenue growth in 2023 compared to 2022. A quarter see no difference between the two years, and almost 14% expected that in 2023 their revenues will decrease by up to 20% compared to 2022. Radichev specified that 600 active online merchants from 12 countries participated in the survey.
Bulgarian Small and Medium Enterprises Promotion Agency (BSMEPA) Executive Director Boyko Takov, said that the agency will participate as an institutional partner of the Balkan eCommerce Summit and will have its own stand. The main roles of the agency are the internationalization of small and medium-sized enterprises and to sell their products in foreign markets. Takov pointed out the trend for e-commerce is on the rise and more and more companies are participating in it.
Gergana Ilieva from the Bulgarian-Romanian Chamber of Commerce and Industry specified that a large number of Bulgarian companies are interested in Romania when it comes to online sales. However, in order for products to reach the end customers, there is a problem that both online and offline merchants face, a lack of easy deliver routes. Ilieva explained that having only two bridges between Bulgaria and Romania greatly hinders business.
Zvezdelina Lacheva from DS Smith said that there is an upward trend in the sale of packaging. She pointed out that a growth of more than 85% was reported for 2023 compared to 2022. Lacheva added that the most clearly emerging trend is sustainability and consumer expectation that their packaging be ecological and biodegradable. She pointed out that 41% of European consumers expect packaging to be recycled. The trend to replace plastic in packaging also continues.
Source: https://www.bta.bg/en/news/economy/642719-e-commerce-in-2023-to-reach-2-11-of-bulgaria-s-gdp-in-2023