Poland has one of the strongest e-commerce markets in Europe. The biggest reason for this is consumer confidence.
Poland is, in terms of population, one of the largest countries in Europe and is currently experiencing enormous growth in e-commerce: Online retail is on the rise, driven by consumer confidence and increasing online shopper penetration, reaffirms a report by Business Wire.
First, some facts about the Polish e-commerce market: About 75 percent of the population has already tried online shopping at some pointand 46 percent of the population (38.5 million) shop online regularly. As a result of this, the annual e-commerce growth is about 25 percent – one of the highest growth rates in Europe.
Important market trends in Poland include the expansion of m-commerce and the growth of cross-border online shopping. At the same time, online shopper penetration in Poland reached over one third of the population in 2015. This shows that the market still has thousands of potential customers, as currently less than half of the population in Poland are internet users.
Poland is one of top five most important e-commerce markets in Europe
According to a Gemius report, about one in four internet users in Poland already shop online and plan to increase the amount of money they spend online. With this, Poland is one of the top five most important markets for e-commerce in Europe, alongside the U.K., France, Germany and the Czech Republic. The relatively low cost of operating in Poland is another reasons for its high ranking.
What exactly do Polish internet users find so exciting about e-commerce? The biggest factors motivating internet users to shop online are: the round-the-clock availability of e-stores (88 per cent), the possibility of avoiding a trip to the shops (83 per cent) and the ease of price comparison (77 per cent). The existence of more attractive prices than in the shops came in at fourth place (76 per cent), the Gemius report found.
The key to success lies in focusing on the customer
The reasons behind online retailer’s success have not changed over the years: low rates, a wide range of products or a unique product offering, a comfortable purchasing and payment process and an uncomplicated delivery. The key to success lies in focusing on the customer and excellent customer relationship management.
So, in what areas can e-commerce be improved? Currently, most of e-commerce merchants in Poland sell their products nationwide and competition prices are low. About 45 percent of internet users prefer Polish online shops, too. Nevertheless, many retailers try to expand internationally. Thereby, the sales potential is to benefit from other countries, but must be tailored to suit the customer management of different cultures, and improve the selection of payment and delivery options available.
To compete successfully in the online market, retailers should offer an optimal payment mix and delivery options which are preferred by the respective culture. In Poland, the preferred payment methods would be online transfer, prepayment at sale on bill, cash on delivery and payment by credit card.