The biggest increase was registered between 2014 and 2015, when sales in the e-commerce sector grew by over RON2 billion, according to an analysis regarding the online commerce business between 2011 and 2016, conducted by KeysFin, which provides business and credit management information services for the business environment.
The profitability of the sector rose to RON233.7 million in 2015, from RON47.4 million in 2011, and it is expected to exceed RON300 million in 2016, amid Romanians’ growing interest in products and services sold on the Internet, according to KeysFin statistics.
„2016 is expected to be the best year in the history of the Romania online business. A solid argument is the spectacular results of the 2016 Black Friday sales campaign which proved the Romanian online sector has become a national phenomenon. Not necessarily the sales, but the huge volume of sales proved that Romanians are more and more interested in shopping in the so-called virtual shopping malls,” KeysFin analysts explained.
For instance, online retailer eMag announced cash-ins of RON300 million for the 2016 Black Friday campaign. On November 18, the company sold more than 1.1 million online products. Dante International SA, the owner of eMag, is the largest player on the market, according to 2015 financial data submitted at the Finance Ministry, reporting a turnover of RON1.7 billion in 2015.
Payment processor PayU said the 2016 Black Friday edition, held between November 18 and 20, generated 188,000 online transactions worth a total RON113.3 million, 67% more than at last year’s edition.
The ranking of the leading players in the Romanian online commerce, by turnover, includes Fashion Days Shopping SRL (RON221 million), Studio Moderna SRL (RON188 million), PayPoint Services SRL (RON188 million), Corsar Online SRL (RON173 million) and PC Garage SRL (RON166 million). The ranking also includes Payzone SA (RON155 million), Teamnet Business Services (RON130 million), Euronet Services SRL (RON88 million) and Elefant Online S.A. (RON78 million).
The information included in the study is part of a barometer regarding the situation of the Romanian business, a project developed by KeysFin by analysing the financial data regarding commercial companies and authorized private individuals (PFA) active in Romania.