Greek consumers shop more on-line

Greek consumers shop more on-line

In 2013 Greek shoppers spent an estimated 3.5 bln euros on items from Greek and foreign on-line stores. However they remain hesitant about on-line shopping, especially on payment security.

Athena Korlira
ΓΡΑΦΕΙ: ATHENA KORLIRA

In 2013 Greek shoppers showed an increased interest for e-commerce. According to the Greek e-Commerce Association (GRECA), in 2013 Greek shoppers spent an estimated 3.5 billion euros on items from Greek and foreign on-line stores.

This is a significant increase from 2012, when the University of Athens’ e-Business Research Center (ELTRUN) reported that on-line sales amounted to 2.9 billion euros. ELTRUN’s data also shows that in 2011, total sales amounted to 1.7 billion euros. Between 2008 and 2012, on-line sales increased by 55.2% on an annual basis, which is one of the highest rates in Europe.

Greeks are still hesitant, with concerns focused on payment security and protection of personal data

Regarding the first 9 months of 2013, 74% of on-line shoppers made purchases were related to travel services, followed by hotels and hospitality services (67%), computer hardware and software (65%), clothing and shoes (57%), event tickets (56%), books (51%) etc. Most product and services categories saw an increase in on-line sales compared to 2012.

Despite the encouraging signs though, many Greeks are still skeptical and hesitant about on-line shopping, with many concerns focused on payment security and the protection of personal data.

According to Infobank Hellastat, consumers‘ suspicion is due to the lack of basic information on on-line shopping. Specifically, about 10% of e-shops do not include basic information such as they contact address and details, about 40% of on-line stores do not include information on the protection of customers’ personal data, while a further 40% is vague on its terms of use.

Consumers trust more large foreign sites than Greek ones, believing (sometimes falsely) that they have better protection policy.

Before on-line shopping came in being, people used to shop from various stores offering different products.

Today, every one shops various products of his/her own choices, all online.


The introduction of on-line shopping websites has led this world to post modernity phase. In Greece, a series of sites are on the rise, such as ricardo.gr or brandsgalaxy.gr. Even supermarkets are on an upward trend for on-line groceries shopping, like Marinopoulos, AB Vasilopoulos or Caremarket.

However, even in Greece, the top sites are still international ones.

Here are some of most popular on-line shopping websites.

Amazon.com
Amazon is a very famous on-line shopping website in the world, which existed since 1990s (1995). It is a vast eCommerce/eBook/Kindle company (on-line portal) and thus is named after the largest river in the world, Amazon. Amazon.com is with a super market concept and it deals with all kinds of stuff, including electronics, apparels, gadgets, clothing items, books, DVDs, toys, computers. Amazon has broken the limit of product variation with the indulgence of vehicles and 2nd hand products in stocks. This amazing website is based in Washington DC. The estimated revenue of Amazon.com is more likely to be 35 billion USD or so.

eBay.com
eBay is considered almost equal to Amazon. Yet, it is not at par with Amazon, but is considered to be the next big thing to Amazon. The portal was established hand to hand with Amazon i.e. 1995. It is indeed a worldwide fact that eBay is one of the largest classified and auction online shopping websites of the era. It is a classified website means you can easily buy brand-new and used (secondhand) products and gadgets at very cheap prices and offered retail discounts. This is an auction website in the sense that you can sell your old products on this site and get satisfactory money back. From buying new products, up to the selling of your old products, eBay has every nook of product availability and the estimated revenue of eBay is to be worth around 10 billion USD.

Walmart.com
Walmart is also a very old on-line shopping portal as it was established in 1960s. Before Walmart became Walmart.com (an online shopping website), it acted as a key chain from where people used to buy their commodities on retail prices and discounts. Today we see that Walmart is an on-line shopping store, selling thousands of products and gadgets each day. Mainly, Walmart deals with the collection of home furnishings, video games, electronics, clothing, toys and gifts. The estimated revenue of Walmart.com is very high, near about 425 billion USD.

Target.com
Target was founded by George Dayton in 1902. It is indeed the second largest retailing company in the era. Target is nowadays headed by Gregg Steinhafel (the president, chairman and CEO of the company). Target is also one of the famous online shopping websites, dealing with the tough merchandise services for women, men, kids, baby like home furniture, electronics, entertainment, toys strength and beauty products. The company sells over more than 500,000 items each day and the estimated revenue of Target is 67.4 billion USD (approx).

BestBuy.com
BestBuy is one of the richest online shopping websites prevailing in the world. It came into existence in late 1990s and has engaged itself in dealing with cool electronic stuffs including gadgets, laptops, DVDs, LCD screens, tablets. With the passage of time, BestBuy started to include many other certain criteria like books and video games, toys, sporting goods and the estimated revenue of BestBuy Company is worth around 50.3 billion USD.

Alibaba.com
Although Alibaba is a China based eCommerce company, it hits the era with its magic of cool stuffs and merchandises. Alibaba got emerged in 2007 and so, it is a very young company. It deals with every kind of stuff including new products, electronics, clothing and much more. Estimation says that Alibaba earn millions and is one among the top 100 online shopping stores in the world.

NewEgg.com
NewEgg is a reputed company that came into existence in 2001. It deals with many top computer related products, including software, DVDs, hardware, games, accessories and much more. Though the website doesn't work on large scale, its estimated revenue is worth around 2.3 billion USD.

Barnes and Noble (BarnesAndNoble.com)
Barnes and Noble is one of the famous retail stores in the world. It deals with many kinds of stuffs, especially electronic related products which include tablets, computers, Smart phones and eBooks. Like NewEgg, Barnes and Noble is also a small company with a revenue estimation over 5.12 billion USD. And fortunately, this website has achieved great.

Macys.com (Macy's)
Like Amazon, eBay and Walmart, Macy's is also a very old company. In other words, it is an old chain segment of departmental stores. Macy's came into existence in 1858. Macys.com deals with many kinds of merchandises, including footwear, accessories, clothes, cosmetics and even jewelry. And by the time, the company has managed in making its fortune worth around 25 billion USD.

Overstock.com
Some years back, Overstock Company was known by the name Discounts Direct. It was thereby, a need of the hour as the inventory of surplus products and gadgets started to grow. The company deals with top products related to clothing, gadget gears, gifts, toys, sporting items and other tons of brand-new products on sale. The estimated revenue of Overstock Company is around 1.1 billion USD.


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