This week’s E-smaspaev, Estonia’s semiannual version of Cyber Monday, boosted one-day online shopping turnover more than threefold, according to overviews by payment solutions providers Maksekeskus and Montonio.
While people in Estonia typically spend some EUR 5-7 million per day shopping online, on May 9, they spent EUR 15-21 million buying from online stores, Estonian E-Commerce Association CEO Tonu Vaat said according to a press release.
“Some online stores proved so popular among shoppers that turnover increased by 50% compared with E-smaspaev a year ago or even 9-fold compared with regular days,” Vaat highlighted.
According to the CEO, 41,000 people visited the joint online shopping campaign’s website this year.
“A year ago, at the height of the pandemic, this figure stood at 37,000, and at the time it seemed that this record would surely be hard to beat – as surely there had to be a limit somewhere,” he said.
On May 9, 280 online stores took part in E-smaspaev, offering extensive one-day deals. Especially popular this time were apparel and other seasonal goods, electronics as well as cosmetics.
According to Montonio’s figures, the number of online store transactions on May 9 quadrupled on average.
“It was very clear to see that online stores offering at least 30% off had very strong results during E-smaspaev,” Vaat said.
Last year, online shopping in Estonia saw an increase of 50%, or more than EUR 1 billion, bringing the total to EUR 2.5 billion.
“E-commerce accounts for 20% of total retail trade,” he noted, adding it was currently already tracking to surpass the 25% mark this year.
E-smaspaev is a semiannual online shopping day organized by the Estonian E-Commerce Association during which participating online stores offer special deals for a period of 24 hours. The joint campaign is aimed at promoting Estonian online stores’ user-friendly and secure solutions.
Founded in 2008, the Estonian E-Commerce Association is an umbrella organization with 463 member businesses across Estonia. (ERR/Business World Magazine)