According to data provided by the CNMC (National Commission for Markets and Competition), only during the first quarter of 2022, electronic commerce in Spain had a growth of 25.3% compared to 2021, and reached 15,627 million euros.
Focus on market diversification and international expansion
The report shows very encouraging data for the panorama of Spanish electronic commerce. And 61% of Spanish eCommerce have intentions of expanding internationally during the next year. In addition, 62% of the companies surveyed want to add at least one new B2C sales channel to their offer.
In this sense, 97% of companies believe that market diversification is essential for their expansion. Therefore, among the main reasons for the expansion we find that 34% will do it to increase their international traffic, 32% will do it to be the first in the market and 34% of Spanish companies have seen that the domestic market is too competitive, so they are forced to expand.
The favorite markets for expansion among Spanish eCommerce are France and the United Kingdom (48%), Germany (46%), the United States (43%), Italy (33%) and the Netherlands (21%).
Main obstacles to internationalization
Regarding the main concerns of Spanish eCommerce that seek to internationalize, these are logistics, storage and associated costs. Likewise, this set of concerns is related to the higher cost to be assumed by 60% of eCommerce.
On the other hand, other of those considered the main obstacles that brands face to reach other countries have been mentioned taxes (50%), customs (47%), the difference in payments and currencies (34%) and costs of recruitment (30%).
Once the initial barriers have been overcome and are already within the new destination, it is essential for Spanish eCommerce to have a presence there. Therefore, 40% tend to create their own web page for the new market and 29% offer international shipments from the new country, in order to enter it.
Technology, essential for the expansion
There is no doubt that technology is a powerful ally for Spanish eCommerce in their internationalization process. For this reason, many prefer to use marketplaces as a springboard to enter new markets. And it is no coincidence, it is that they have various benefits for brands, among which stand out: the technology is already established (42%), there is a frequent customer base (35%) and they can start testing products in the new market (35%).
61% of Spanish eCommerce will seek to expand internationally in 2023