According to a press release by SEB, purchases made on the websites of Estonian online retailers increased by almost 70% in volume over the first three quarters of 2018.
Thrown in together, purchases made using cards as well as online increased in volume by some 30% this year as well.
The trend is in line with developments elsewhere in the world, the bank said, though the increase this year has happened faster and to the tune of some 15% above the global average. This has also led to an increase in Estonian online retailers’ visibility, according to SEB.
The average transaction size remained roughly the same, which means that the increase has been mainly in transaction volume and not in people’s spending per single transaction. In fact, there was even a slight decline reported: while the average spent on a single transaction in the first three quarters of 2017 was EUR 43.50, in the same period of 2018 it was at EUR 39.70. (ERR/Business World Magazine)
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