Emerging Markets CEE – Which E-Commerce Markets Should You Explore?

What are the most promising emerging markets in Central-Eastern Europe? Slovenia, Czech Republic, Bulgaria and Hungary. In this article, we will showcase those markets, providing you with essential information about the trends there and explaining why they are a good direction for your cross-border expansion. Read on to find out more.

The 4 Key Emerging Markets in Central-Eastern Europe

Entering an emerging market comes with a plethora of benefits. Even though such countries might not drive sales in your e-commerce instantly, they will pay off in the long run. By starting to sell your products on them early on, you get the opportunity to build your brand image and reputation, ensuring that you are well positioned for their upcoming peak.

This is why in this article, we look at the emerging markets in CEE. Which countries should you consider when selling your products cross-border? Take a look below.

Slovenia

Slovenia might be a small country, but it’s relatively rich. This, in turn, means that the online shoppers there turn to electronics and fashion from the West, making it a great market for UK-based e-commerce stores.

Additionally, it’s quite easy to build brand awareness in Slovenia since Google dominates the list of search engines used in the country. As a result, with a little bit of SEO, you can attract hundreds of customers who are ready to spend good money in your store.

Market Trends

What are the most important market trends in the Slovenian market?

• B2B e-commerce is just kicking off, but it’s expected to grow rapidly in the upcoming years. Joining this sector now creates major opportunities for the future.

• Currently, 57% of online shoppers in Slovenia make at least 10% of their online transactions in foreign online stores.

Czech Republic

The Czech Republic is a highly digitalised country. According to Datareportal (Digital 2023 and 2024), about 74% of consumers (over 15 years old) purchase products online. What is more, this market is constantly growing – the number of people buying online weekly has risen by 2.4 percentage points just in the past year. The conclusion is simple: this market has high potential.

The Czech market isn’t centralised. You won’t find clear leaders in e-commerce there. This has its upsides and downsides. On the one hand, it will be easier for you to acquire customers; on the other hand, you might need to invest more in marketing since focusing on just one channel won’t do the trick. Nevertheless, Czechia is one of the most promising emerging markets in CEE.

Market Trends

What are the most important market trends in the Czech Republic?

• Free delivery is the most important driving factor for Czech online shoppers.

• Simple returns also matter in Czechia.

• Online shoppers in the Czech Republic often read product reviews and base their decisions on them; therefore, you should ensure the high quality of your products.

• The most popular payment methods in the Czech Republic include:

  • bank transfers (32.7%),

  • debit and credit cards (24.9%),

  • digital wallets (21.8%),

  • cash on delivery (15.4%),

  • others (5.3%).
    

Bulgaria

Bulgaria is an excellent example of an emerging market in Central-Eastern Europe. Although 38.9% of people over 15 years old are purchasing products and services online right now, this number will grow significantly in the upcoming years. According to estimations, the CAGR for e-commerce in Bulgaria should equal 13.7% in the years 2024-2028.

In practice, this means that although it might not seem attractive right now, you should start building your presence in Bulgaria. By entering this market right now, you will be able to build your brand image and reputation before the Bulgarian e-commerce boom that is about to happen.

Market Trends

What are the most important trends in the Bulgarian market?

• Almost 50% of Bulgarian online shoppers claim that fast delivery is a driving factor for their purchases.

• 42.5% of online shoppers say that the availability of the “cash on delivery” option impacts their purchase decisions.

• Uncomplicated, simple returns and loyalty programs are also important for consumers in Bulgaria.

Hungary

Finally, Hungary is the last CEE emerging market on our list. Why should you choose this option?

Currently, the revenue of the whole e-commerce market in Hungary is estimated at 1.8 million. However, it’s expected to almost double by the end of 2029, achieving 3 million. It’s a rapidly growing market, so you can achieve big wins by entering it now.

Market Trends

What are the most important trends in the Hungarian market?

• Fast delivery is key – it impacts the decisions of 58.7% of online shoppers.

• Discounts and loyalty programmes also attract consumers.

• The most popular payment methods:

  • debit and credit cards (34.1%),

  • digital wallets (28%),

  • bank transfers (22%),

  • cash on delivery (7%),

  • others (8.9%).

• Interestingly, despite the low popularity of the “cash on delivery” method, 35% of Hungarian online shoppers claim that its availability impacts their purchase decisions.

• Next-day delivery is quite popular in Hungary.

The Takeaway

Knowing the emerging markets in CEE, you are ready to pick the ones you want to explore and start shipping your goods cross-border. For that, partner with us – Landmark Global. We will ensure that your parcels are delivered on time, every time.

You might also read: Exploring Emerging Markets – Opportunities and Challenges for UK Exporters

Sources:

• https://datareportal.com/reports/digital-2024-czechia

• https://datareportal.com/reports/digital-2023-czechia

• https://datareportal.com/reports/digital-2024-slovenia

• https://www.mordorintelligence.com/industry-reports/slovenia-ecommerce-market

• https://ecommercedb.com/markets/bg/all

• https://datareportal.com/reports/digital-2024-bulgaria

• https://www.statista.com/forecasts/1312894/hungary-e-commerce-segment-revenue

• https://datareportal.com/reports/digital-2024-hungary