- 29/10/2024
- Economy, News and Fairs
In 2024, online shopping in Italy will exceed 58.8 billion euros, up 6 percent from 2023. The most dynamic product segments are Furniture and Home Living (+12%), Beauty&Pharma (+12%) and Food&Grocery (+7%). This is followed by Computers & Consumer Electronics (+5 percent), Apparel (+5 percent) and Auto & Parts (+4 percent). In services, Tourism and Transportation (+8 percent) leads the growth.
This is what emerges from data presented by the ecommerce B2c Netcomm Observatory - School of Management of the Milan Polytechnic, now in its 24th edition, during the conference entitled “B2c eCommerce... to extend and amplify.”
“Online continues to grow, fueled by innovation, not only technological, and is an indispensable element for the development of Retail and the consumption habits of Italians,” says Alessandro Perego, Scientific Director of the Digital Innovation Observatories of the Politecnico di Milano.
Digital commerce a growth engine for the economy
Very interesting is the analysis expressed by Roberto Liscia, President of Netcomm: “Digital commerce is confirmed as an increasingly important growth engine for the European and Italian economy. In 2024, B2c e-commerce turnover in Europe grew by 3 percent to reach a value of 887 billion euros. The outlook for 2024 is encouraging, with a further growth forecast of 8 percent and a consequent increase in the country's contribution to GDP. In our country, more than 88,000 Italian companies have activated their own digital sales channel, thus increasing their ability to compete internationally. This is possible thanks to the growth in cross-border trade, the development of new market strategies and the introduction of advanced technologies, which must respond to the new orientations of the consumer, who is increasingly turned toward the values of sustainability and the personalization of services.”
The B2c eCommerce market in Italy and the world
Valentina Pontiggia, Director of the Netcomm - Politecnico di Milano eCommerce B2c Observatory, notes that the market split between online and physical in Italy in 2024 has not changed much: the penetration rate of online on total consumption (eCommerce + store) in fact acquires half a percentage point reaching 13 percent, with different values in the product (11 percent) and service (17 percent) components. “The market values tell us of an online a little less lively than in the past. - concludes Valentina Pontiggia - However, these data do not reflect the great work done behind the scenes by many merchants, who are increasingly engaged in process optimization, in introducing technological solutions to improve both the user experience and back-end activities, and in experimenting with different ways of interacting with consumers and new business models, very often platform-based.”
The data of online product trade in Italy are in line with those of the international context in recent years. In 2024, global online product purchases grew by +8% compared to 2023. Product eCommerce growth is +8% in China, +9% in the US and +7% in Europe. Regarding more specifically the European market, the states where online product commerce is most developed are UK (+4%) compared to 2023, Germany (+4%), France (+5%) and Spain (+7.5%). The ratio of online consumption to total Retail consumption in the different countries remains constant or acquires at most one percentage point, revealing gradual growth, with no longer those double-digit increases recorded in the past.
Emerging trends: innovation and conscious consumption
Among emerging trends, there is a growing number of eCommerce retailers and merchants, in Italy and worldwide, open to experimenting with technologies that can improve consumer relationship activities and optimize back-end processes. Starting with Artificial Intelligence, which has multiple potentials, some still unexplored, and which can be adopted at all stages of the purchasing process. Another opportunity for retailers and merchants to innovate and improve the online user experience is Extended Reality, thanks for example to Virtual Try-on systems and the creation of virtual experiences.
Business models that promote a more conscious consumption style are also growing significantly: more and more people are choosing to buy second-hand items, especially in Apparel and Furniture, and brands, recognizing the importance of this shift, are implementing strategies to integrate the second-hand market.