eCommerce market in Belgium

Belgium is the 30th largest market for eCommerce with a predicted revenue of US$9,784.7 million by 2024, placing it ahead of Singapore. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 7.1%, resulting in a projected market volume of US$12,867.4 million by 2028. With an expected increase of 9.0% in 2024, the Belgian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Belgium, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Belgian eCommerce market. Hobby & Leisure is the largest market and accounts for 25.3% of the Belgian eCommerce revenue. It is followed by Electronics with 21.3%, Fashion with 18.1%, Furniture & Homeware with 11.5%, Care Products with 9.2%, DIY with 8.8%, and Grocery with the remaining 5.8%.

Monthly revenues

Monthly revenues in the Belgian eCommerce market

The monthly eCommerce revenue of the Belgian eCommerce market was US$873 million in October 2024. This refers to a growth of 34.5% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in November 2023 with 11.2% of the total 2023 revenue of the Belgian eCommerce market and the lowest in September 2024 with 6.6% of the total 2024 revenue.

Revenue Last Month

US$873.3m

The eCommerce revenue grew by 34.5% from September 2024 to October 2024.

10-2024+34.5%

Monthly revenue shares in the last 12 months

in %
0-20241-20242-20243-20244-20245-20246-20247-20248-20249-202410-202411-2024
Revenue (in mUS$)0.00.00.00.00.00.00.00.00.00.00.00.0
Monthly revenue share (in %)45.083.142.521.929.044.393.149.267.292.154.584.2

Market development

eCommerce revenue development in Belgium

Belgium is the 30th largest market for eCommerce with a predicted revenue of US$9,784.7 million by 2024, placing it ahead of Singapore. Revenue is expected to show a compound annual growth rate (CAGR 2024-2028) of 7.1%, resulting in a projected market volume of US$12,867.4 million by 2028. With an expected increase of 9.0% in 2024, the Belgian eCommerce market contributed to the worldwide growth rate of 10.1% in 2024. Like in Belgium, global eCommerce sales are expected to increase over the next years. Seven markets are considered by ECDB within the Belgian eCommerce market. Hobby & Leisure is the largest market and accounts for 25.3% of the Belgian eCommerce revenue. It is followed by Electronics with 21.3%, Fashion with 18.1%, Furniture & Homeware with 11.5%, Care Products with 9.2%, DIY with 8.8%, and Grocery with the remaining 5.8%.

eCommerce revenue development in Belgium

in million US$

eCommerce revenue growth in Belgium

in %

Net eCommerce revenue split by sub-category

in %
20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)17.035.238.314.046.798.766.441.8

Online share

eCommerce online share in Belgium

The online share refers to the proportion of the retail volume that is transacted via the Internet. It includes purchases via desktop PC, tablet or smartphone, both via website or app. Only retail of physical goods is taken into account. In the Belgian retail market, the online share is 10.1% and will increase by an average of 7.1% to 13.3% by 2028.

eCommerce online share in Belgium

in %
20202021202220232024202520262027
Online share (in %)66.4%83.2%51.9%53.1%74.4%23.6%64.6%31.5%

Top stores

Top five online stores in Belgium by net sales 2023

The biggest player in the Belgian eCommerce market is bol.com. The store had a revenue of US$839.6 million in 2023. Store rankings include every store that generates revenue in Belgium. These stores can either have a national focus and only sell in their main country or operate on a global scale. For this evaluation, only revenue created in Belgium was considered.

eCommerce net sales generated in Belgium in 2023

in million US$
Filtered revenue / share
Global revenue
Growth
US$900.0m
20.7%
US$8,300.0m8.3%
US$550.0m
12.0%
US$4,600.0m12.4%
US$470.0m
3.9%
US$1,190.0m33.6%
US$430.0m
20.6%
US$2,122.0m18.0%
US$370.0m
20.7%
US$1,814.0m12.6%

Payment Methods

Top 5 offered payment methods in the Belgian eCommerce market

The Belgian eCommerce market in 2023 in terms of offered payment methods is fragmented and dominated by a few providers with VISA (Cards) covering the largest share with 94.1% of all online stores checked. Other offered payment methods in the Belgian eCommerce market in 2023 are Mastercard (Cards) with 93.5%, PayPal (E-wallets) with 70.0%, and Bancontact (E-wallets) with 69.3%. With 45.0% Bank transfer/cash in advance (Bank transfer) has already a significantly smaller coverage compared to VISA (Cards).

Top 5 offered payment methods in the Belgian eCommerce market

in %

See all stores offering


Shipping Service Provider

Top 5 offered shipping providers in the Belgian eCommerce market

Despite Bpost's dominant position with 38.9% of online stores opting for its services, the Belgian eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including PostNL, DPD, DHL, and UPS (United Parcel Service), hold smaller but significant shares, contributing to a dynamic and fragmented market.

Top 5 offered shipping providers in the Belgian eCommerce market

in %