Does inflation threaten e-commerce in Belgium? – Companies

Despite the closures and economic turmoil in early 2022, Belgian e-commerce is still experiencing steady growth.

E-commerce continues to seduce the Belgians as Belgian online stores recorded a 13% increase with more than 5.8 billion transactions compared to 2021. A good performance despite the economic context.

SafeShops.be, the Belgian e-commerce association, has compiled a whole series of numbers for the first half of this year on its barometer. This focused on the activity generated directly by the Belgian online stores. Sales from marketplaces like Amazon, Alibaba or Bol.com are therefore not taken into account.

Less store but more transactions

Two main trends emerge from this barometer. On the merchant side, first and foremost, the Belgian e-commerce association notes a 5.8% drop in the number of Belgian online merchants, as 3,283 of them closed their stores during the first half of 2022. phenomenon we were expecting”, explains Greet Dekocker , Managing Director of SafeShops.be. “Many companies opened an online store during the health crisis, but some underestimated the effort and investment it took,” says Greet Dekocker. The market is stabilizing, but we are not talking about market maturity yet. “The arrival of new technologies will open up new opportunities. There will be room for new players, as long as they are part of an investment logic.”

On the consumer side, they continue to shop online despite the economic downturn. The number of transactions grew by 12.04% between the first half of 2021 and the first six months of this year. “It’s more than we expected,” says Greet Dekocker.

Electro takes advantage of the crisis

Not all sectors are affected by this increase. Fashion or home and garden furniture is at half mast. “No wonder, as these sectors had very expressive numbers during the health crisis, not to mention that consumers are also returning to stores to buy clothes”, analyzes the director general of SafeShops.be.

On the winning side, electro is benefiting from the energy crisis, as Belgians seek to replace A-labeled appliances to consume less. The second-hand sector, which also largely sells fashion items, is also growing, as is travel and leisure, which are making a comeback on the Belgian online scene.

exports on the rise

If Belgians are known for shopping on foreign websites, Belgian online stores can also rely on foreign customers. Greet Dekocker confirms this trend: “Belgian export volume in the first half of this year is significantly higher than last year. Therefore, we expect confirmation of this trend for the rest of 2022.”

On the payment side, Bancontact remains the preferred payment method for online purchases. 60.55% of all payments are made via Bancontact. Additionally, the average value of the shopping basket remains stable at 77 euros. Therefore, inflation does not (yet) seem to have an impact on Belgian online shopping behavior. “We’ll have to wait a few months before confirming”, stresses Greet Dekocker.

E-commerce continues to attract Belgians, as Belgian online stores recorded a 13% increase with more than 5.8 billion transactions compared to 2021. A good performance despite the economic context. the entire series of numbers for the first half of this year on your barometer. This focused on the activity generated directly by the Belgian online stores. Sales from marketplaces like Amazon, Alibaba or Bol.com are therefore not taken into account. Fewer stores, more transactions Two big trends emerge from this barometer. On the merchant side, first and foremost, the Belgian e-commerce association notes a 5.8% drop in the number of Belgian online merchants, as 3,283 of them closed their stores during the first half of 2022. phenomenon we were expecting”, explains Greet Dekocker , Managing Director of SafeShops.be. “Many companies opened an online store during the health crisis, but some underestimated the effort and investment it took,” says Greet Dekocker. The market is stabilizing, but we are not talking about market maturity yet. “The arrival of new technologies will open up new opportunities. There will be space for new players, as long as they are part of an investment logic.” shop online despite the economic crisis. The number of transactions grew by 12.04% between the first half of 2021 and the first six months of this year. “It’s more than we expected,” says Greet Dekocker. Electro benefits from the crisis Not all sectors are affected by this increase. Fashion or home and garden furniture is at half mast. “No wonder, as these sectors had very expressive numbers during the health crisis, not to mention that consumers are also returning to stores to buy clothes”, analyzes the director general of SafeShops.be. energy crisis, as Belgians seek to replace A-labeled appliances in order to consume less. The second-hand sector, which also largely sells fashion items, is also growing, as is travel and leisure, which are making a comeback on the Belgian online scene. Exports on the rise While Belgians are known for shopping on foreign websites, Belgian online stores can also rely on foreign customers. Greet Dekocker also confirms this trend: “The volume of Belgian exports in the first half of this year is significantly higher than last year. Therefore, we expect a confirmation of this trend for the rest of the year. 2022.” On the payment side, Bancontact remains the preferred payment method for online purchases. 60.55% of all payments are made via Bancontact. Additionally, the average value of the shopping basket remains stable at 77 euros. Therefore, inflation does not (yet) seem to have an impact on Belgian online shopping behavior. “We’ll have to wait a few months before confirming”, stresses Greet Dekocker.

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