Insights into the growth of Slovakia ecommerce profiling payment methods, target audiences, marketing, social media, economy and logistics
Economy
Slovakia is home to 5.4 million people with a total GDP of US$105 billion. GDP per capita is currently US$19,266 and expected to reach US$27,172 by 2025. Slovakia is ranked as the 50th richest country by the World Bank GDP per capita rankings.
Digital User Insights
There are currently 2.8 million ecommerce users in Slovakia, with an additional 300,000 users to be shopping online by 2025. These 3.1 million ecommerce users will represent 74% of the total population. The average user spends US$445 online, which will grow to US$457 by 2024.
Dividing internet usage into age groups, gives a better picture of the Slovakian ecommerce market. 98% of 16-24 years olds log on daily, 91% of 25-34 year olds, and 83% of 35-44 year olds. The older generations log on regularly with 45-54 year olds showing a 74% daily penetration rate, and 64% of those over 55 logging on daily.
Product Categories
Total ecommerce revenue across all product categories is US$1.2 billion, expected to reach US$1.39 billion by 2025. Fashion is currently the leading product category, accounting for US$452 million market share. Electronics and Media is second, accounting for US$334 million.
By 2025, Fashion will still lead, valued at US$508 million. Electronics and Media will also grow, reaching US$356 million.
Logistics
In 2018, Slovakia was ranked 53rd in the World Bank Logistics ranking. 54% of Slovakia’s population reside in urban areas.
Preferred Online Payments
45% of shoppers used mobile payments when shopping online, and a further 33% used prepaid cards. Credit cards were also used online accounting for 17% of purchases.
Where does Slovakia buy from?
Slovakia imports from Germany (US$15.2 billion), Czechia (US$14.7 billion), Poland ($6.61 billion), Hungary ($5.88 billion), and Russia ($4.53 billion).
Internet and Device Usage
Internet penetration in Slovakia is currently at 79%, and should reach 81% by 2025. Smartphone penetration is 72% and is projected to grow to 80% by 2025.
90% of online shoppers in Slovakia shop online via desktop. 4% of shoppers make purchases via smartphone, and 3% made their most recent purchase via tablet.
Marketing
Total Marketing spend in Slovakia has risen in recent years, as advertisers steadily invest more in digital advertising. Digital has grown to the second highest market spend reaching US$55 million. Television is the highest market spend accounting for US$115 million. Slovakia has the 19th largest digital advertising spend in Europe.
Social Media
Slovakia’s Social Media Penetration is 59% in 2021, with this expected to increase to 61% by 2025. Facebook is the leading social network. Twitter and LinkedIn are also popular.
For more market insights, check out the ESW series of blogs covering a range of emerging ecommerce markets.
*Insights derived from ESW data, Statista, WorldBank, OECD and other industry sources.
