Fashion market in Greece

The Greek Fashion eCommerce market is predicted to reach US$1,621.9 million by 2024 and accounts for 16.8% of the total eCommerce market in Greece. 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 3.3%, resulting in a projected market volume of US$1,845.2 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

Monthly revenues

Monthly eCommerce revenues in the Greek Fashion market

The monthly eCommerce revenue of the Greek Fashion market was US$144 million in October 2024. This refers to a growth of 5.8% compared to September 2024. Within the last 12 months, the monthly revenue share was the highest in November 2023 with 12.1% of the total 2023 revenue of the Greek Fashion market and the lowest in February 2024 with 6.8% of the total 2024 revenue.

Revenue Last Month

US$144.2m

The eCommerce revenue grew by 5.8% from September 2024 to October 2024.

10-2024+5.8%

Monthly revenue shares in the last 12 months

in %

Note: Data shown is using current exchange rates.

Source: ECDB analysis

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 %)2.560.553.778.810.888.739.417.014.190.056.796.6

Market development

eCommerce revenue development in the Fashion market in Greece

The Greek Fashion eCommerce market is predicted to reach US$1,621.9 million by 2024 and accounts for 16.8% of the total eCommerce market in Greece. 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 3.3%, resulting in a projected market volume of US$1,845.2 million by 2028. Within the Fashion market ECDB considers the following three sub-markets: Apparel, Footwear, and Bags & Accessories.

eCommerce revenue development in the Fashion market in Greece

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 Fashion market in Greece

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 %)72.374.318.810.769.97.464.823.4

Online share

eCommerce online share of the total Fashion market in Greece

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 Greek Fashion retail market, the online share is 47.2% and will increase by an average of 11.9% to 74.0% by 2028.

eCommerce online share of the total Fashion market in Greece

in %

Note: Data shown is using current exchange rates.

Source: Statista Market Insights , ECDB analysis

20202021202220232024202520262027
Online share (in %)67.4%44.0%27.8%18.1%3.1%16.9%11.2%20.0%

Top stores

Top five Fashion online stores in Greece by net sales 2023

With sales in the Greek Fashion market, shein.com generated a revenue of US$234.0 million in 2023, which means it is the leading online store in this market. The Fashion ranking of Greece is based on all online stores that generated sales in this market in 2023. Due to a country- and category-dependent approach, both national and international online stores can be part of the ranking. The graph shows a filtered revenue. It only includes national sales within the respective market.

eCommerce net sales generated in the Fashion market in Greece in 2023

in million US$

Note: First party net sales generated after deduction of returns, allowances for damaged or missing goods and any discounts allowed

Source: Annual report, secondary sources, ECDB analysis

Filtered revenue / share
Global revenue
Growth
no-access-0
US$900.0m
20.7%
US$8,300.0m8.3%
no-access-1
US$550.0m
12.0%
US$4,600.0m12.4%
no-access-2
US$470.0m
3.9%
US$1,190.0m33.6%
no-access-3
US$430.0m
20.6%
US$2,122.0m18.0%
no-access-4
US$370.0m
20.7%
US$1,814.0m12.6%

See further stores

Worldwide - Fashion Greece - Fashion Greece - All Categories

Payment Methods

Top 5 offered payment methods in the Greek Fashion market

The Greek Fashion eCommerce market in 2023 in terms of offered payment methods is fragmented and highly competitive with VISA (Cards) covering the largest share with 95.2% of all online stores checked. Other offered payment methods in the Greek Fashion eCommerce market in 2023 are Mastercard (Cards) with 95.2%, PayPal (E-wallets) with 79.0%, and Cash on delivery (Cash on delivery) with 76.6%. With 63.7% Bank transfer/cash in advance (Bank transfer) still has a considerable market share amongst the offered payment methods compared to VISA (Cards).

Top 5 offered payment methods in the Greek Fashion market

in %

Note: A store can offer more than one payment method (Multi-pick), based on 124 stores in the Greek Fashion market

Source: ECDB analysis

See all stores offering

VISA Mastercard PayPal

Shipping Service Provider

Top 5 offered shipping providers in the Greek Fashion market

Despite ACS's dominant position with 39.3% of online stores opting for its services, the Greek Fashion eCommerce market in 2023 remains diverse and competitive. Several other shipping service providers, including Geniki Taxydromiki, ELTA, BOX NOW, and SpeedEx, hold smaller but significant shares, contributing to a dynamic and fragmented market.

Top 5 offered shipping providers in the Greek Fashion market

in %

Note: A store can offer more than one shipping provider (Multi-pick), based on 122 stores in the Greek Fashion market

Source: ECDB analysis

See all stores offering

DHL UPS (United Parcel Service) DPD

Shop Software Solutions

Top 5 used shop software solutions in the Greek Fashion market

Although Magento holds a commanding lead with 18.4% of online stores using the shop software solution, the Greek Fashion eCommerce market in 2023 remains vibrant and competitive. This is due to the presence of several other shop software solutions, including WooCommerce, PrestaShop, OpenCart, and Shopify, which collectively hold a significant share of the market.

Top 5 used shop software solutions in the Greek Fashion market

in %

Note: A store can use more than one shop software solution (Multi-pick), based on 239 stores in the Greek Fashion market

Source: ECDB analysis

See all stores using

shop software shop software shop software

Market definition

Definition of the Fashion market

Market definition: Fashion The category Fashion encompasses the commercial (B2C) sale of apparel (e.g. jackets, t-shirts, joggers, underwear), footwear (e.g. sneakers, boots, sandals), bags (e.g. handbags, backpacks, suitcases), and accessories (e.g. hats, sunglasses, jewelry, watches) via digital channels. Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits), eye care (e.g. glasses and sunglasses with prescriptions) or beauty care (e.g. make-up, fragrances) are not included in this segment. All monetary figures refer to the annual gross revenue and do not factor in shipping costs.

In-scope

  • Apparel (e.g. jackets, t-shirts, joggers, underwear)
  • Footwear (e.g. sneakers, boots, sandals)
  • Bags (e.g. handbags, backpacks, suitcases)
  • Accessories (e.g. hats, sunglasses, jewelry, watches)

Out-of-scope

  • Sport-specific equipment (e.g. climbing shoes, goalkeeper gloves, wetsuits)
  • Eye care (e.g. glasses and sunglasses with prescriptions)
  • Beauty care (e.g. make-up, fragrances)