Electronics market in Cyprus

The Cypriot Electronics eCommerce market is predicted to reach US$209.7 million by 2024 and accounts for 21.4% of the total eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 8.3%, resulting in a projected market volume of US$288.7 million by 2028. Within the Electronics market ECDB considers the following two sub-markets: Consumer Electronics and Electrical Appliances.

Market development

eCommerce revenue development in the Shavers market in Cyprus

The Cypriot Shavers eCommerce market is predicted to reach US$1.8 million by 2024 and accounts for 26.6% of the Personal Care Appliances eCommerce market in Cyprus. It is expected to increase over the next years. The expected compound annual growth rate for the next four years (CAGR 2024-2028) will be 11.2%, resulting in a projected market volume of US$2.8 million by 2028. The Shavers eCommerce market is a sub-market of the Personal Care Appliances market. Further categories within the Personal Care Appliances market are: Electric Toothbrushes, Hair Dryers, and Other Personal Care Appliances.

eCommerce revenue development in the Shavers market in Cyprus

in million US$

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

eCommerce revenue growth in the Shavers market in Cyprus

in %

Note: Market revenue represents B2C sales of physical goods including VAT. It excludes B2B sales, C2C sales, returns, compensation for damaged or missing goods, any discounts granted and services. Data shown is using current exchange rates.

Source: ECDB analysis

Net eCommerce revenue split by sub-category

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

20202021202220232024202520262027
Revenue (in mUS$)0.00.00.00.00.00.00.00.0
Growth (in %)36.730.725.339.172.731.62.774.1

Online share

eCommerce online share of the total Shavers market in Cyprus

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 Cypriot Shavers retail market, the online share is 35.9% and will increase by an average of 2.7% to 40.1% by 2028.

eCommerce online share of the total Shavers market in Cyprus

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)15.9%46.7%10.0%94.9%32.3%64.9%21.3%6.8%

Market definition

Definition of the Shavers market within the Electronics market

Market definition: Electronics > Electrical Appliances > Personal Care Appliances > Shavers The category Shavers includes the online trade of electric razors (e.g. foil shavers, rotary shavers, wet and dry shavers) and trimmers. This category does not cover non-electric razors (e.g. safety razors, straight razors, disposable razors, cartridge razors, razor blades). All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Electric razors (e.g. foil shavers, rotary shavers, wet and dry shavers)
  • Trimmers

Out-of-scope

  • Non-electric razors (e.g. safety razors, straight razors, disposable razors, cartridge razors, razor blades)

Market comparison

The Cypriot Shavers market in a global comparison

Market comparison by growth, online share, and revenue in 2023

in %

Source: ECDB analysis

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