E-Commerce In The European Union: New Trends And Business Models

Electronic commerce has become one of the most dynamic sectors of the European Union economy. The Covid-19 pandemic has made a major contribution to boosting this sector, and despite the lifting of restrictions starting with 2022, European consumers continue to turn to online purchases much more frequently than before the pandemic. In parallel with this trend, however, a series of economic challenges can be noted, reflected at the level of demand and equivalent to the decrease in purchasing power and the postponement of investment decisions. Nevertheless, e-commerce is less affected as compared to the whole retail trade. In a diverse and complex digital market, young people are the “engine†of e-commerce transactions. Regionally, the West and the North of the EU show the highest shares of e-commerce in total retail trade, but there is an obvious tendency of diminishing gaps between regions. Considering the transformations that accompany the business digitalization and the current challenges, the European institutions continue the process of adapting the legislation to the realities of the present. Starting from an overview of e-commerce worldwide, this article has two major objectives: to highlight new trends and business models in e-commerce in the EU, and to outline European legislative initiatives with an impact on e-commerce.