Moldova E-commerce Market - Growth, Trends, COVID -19 Impact, Forecasts (2022 - 2027)

Moldova E-commerce Market - Growth, Trends, COVID -19 Impact, Forecasts (2022 - 2027)

The Moldova E-commerce market was valued at XX.XX billion in 2021, and it is expected to reach XX.XX billion by 2027, recording a CAGR of 14.6% over the forecast period from 2022 to 2027. In 2004, Moldova established an e-commerce law that regulated the critical components of online transactions and introduced phrases like an electronic contract. New legislation was recently passed in accordance with Moldova's EU Association Agreement/Deep and Comprehensive Free Trade Area (AA/DCFTA), with a focus on personal data protection. Moldovans mainly purchase online clothing, shoes, electronics, and travel.

Key Highlights

• E-commerce is still in its infancy in Moldova, with only a few retailers offering it and only a few Moldovans accustomed to ordering online. In Moldova, however, the increased usage of the internet, credit cards, PayPal, and online banking is promoting e-commerce development. E-mail is becoming more widely used for corporate communication. The majority of businesses have their own websites.
• Several domestic enterprises have recently implemented online ordering and other e-commerce strategies. The popularity of online banking is growing. As the usage of smartphones increases, so does access to the internet and mobile internet, and local operators are updating their infrastructure to 4G and developing optical fiber networks.
• As internet connectivity becomes more generally available, the Moldovan e-commerce sector has grown. The COVID-19 pandemic has highlighted the importance of developing online payment and banking systems. E-mail is becoming ever more frequently used for corporate communication. The majority of businesses have their own websites. Local organizations are increasingly turning to social media for marketing objectives.
• Moreover, the Government of Moldova has developed a national digitization roadmap, which focuses on developing e-commerce, promoting online stores, attracting international e-commerce actors, and facilitating cashless payments.

Key Market TrendsGrowing use of the Internet and Online Banking Methods are Booming in Moldova

• The growing use of the internet, credit cards, PayPal, and online banking is favoring e-commerce development in Moldova. Additionally, mobile commerce will become a supplement to the e-commerce industry due to the growing mobile penetration rates and widespread use of smartphones in the country. There is considerable potential for B2B e-commerce as many online stores may be used by small businesses to purchase products for reselling.
• According to a statement delivered by the government, the development of the ICT sector and trade facilitation are the main priorities of the economic development plan. It intends to facilitate customs procedures, integrate technology in the supply-management chain and eliminate the barriers faced by trade and e-commerce.
• Moreover, For Moldova, the COVID-19 problem underscored the critical need for digital transformation. This is especially essential for commerce in general because physical routes were no longer available, forcing consumers and e-commerce merchants to trade through online channels.
• A more comprehensive digital vision and strategy, including e-commerce, might benefit Moldova. Moldova would also benefit from a national implementation authority that could plan and administer all digital and e-commerce projects and coordinate the provision of technical assistance as needed.
• About 37% of Moldovans do shopping or pay bills online. It is estimated that e-commerce will develop dynamically over the years. However, m-commerce has the potential to be an excellent complement to it. Ecommerce has room for maneuver, especially in the B2B market.

Government Plays an Important Role In Expansion of E-commerce Sector in Moldava

• The government is prioritizing the digital transformation of the Moldovan economy and e-commerce. The COVID epidemic of 2020 has emphasized the importance of e-commerce, and MSRP has commissioned a rapid Rapid Review of e-commerce prospects to capitalize on this opportunity.
• The country has launched trade facilitation measures that should include a component focused on e-commerce development and cross-border e-commerce transaction facilitation. AliExpress, Amazon, ASOS, eBay, Rozetka, and Zap are some of the most popular websites. Electronics stores were among the first to open internet shops.
• There are fewer trade entrance obstacles in this sector than in traditional retail. E-commerce websites headquartered in China and the United States are particularly popular among Moldovans for online purchases of principally consumer electronics. France and the United Kingdom are the most popular destinations for footwear and clothes.
• Domestic e-commerce websites rarely accept electronic payment methods. Thus cash on delivery or wire transfers is the only options. There are a few domestic e-commerce aggregators that compare prices on products sold online (All Prices), digitize ticket sales (iTicket), distribute restaurant food (Straus), and assist in the delivery of things ordered online from a variety of foreign retailers to Moldova (Fullship, Pesoto).
• Furthermore, B2B eCommerce has a lot of promise because many online stores may be utilized by small firms to buy things. Given the government's attempts to promote electronic signatures and the usage of e-documents, there is potential for enterprises and SMEs to sell and buy online or shift procurement activities to the internet.

Competitive Landscape

999.md, aliexpress.com, and makler.md are the top three e-commerce sites in Moldova. eBay.com and Amazon.com are two other popular shopping sites. These are popular sites to determine which ones, in terms of traffic volume, competitiveness, and the types of e-commerce shoppers they attract, would be the greatest fit for users' goods.

• April 2022 - Apple Pay has rolled out to three banks in Moldova, the first outlets in the country to support the technology. Apple Pay will work online so customers can pay for goods on e-commerce sites such as 999.md, makler.md, and many others across the internet in the same way.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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