Economic Crisis Beneficial for Bulgarian Online Trade

Business | June 14, 2010, Monday // 11:08
Bulgaria: Economic Crisis Beneficial for Bulgarian Online Trade Bulgarians are shopping more on the internet, suggest data of Bulgarian Association for Online Trade.

The economic crisis has led to an increase in online shopping in Bulgaria, according to the Bulgarian Association for Online Trade.

Despite a considerable drop of shopping at conventional store, there has been a rise in sales on the internet, which are seen as more convenient and giving more options to consumer, according to a publication by Bulgarian daily Pari.

According to the article, there are no certain statistics of the number of online retail shops operating in Bulgaria. Peter Vanchev, chair of the Association for Online Trade, is quoted as saying that the great majority of them are small-scale affairs that don't meet the generally accepted criteria such as “serious infrastructure and staffing”.

According to Vanchev, the economic crisis has proven beneficial for internet stores, because they are more convenient for users, they can give larger discounts, and can also save on storage.

The biggest share of goods sold over the internet is that of books and consumer electronics. There is a trend for some conventional retailers to try to convince their customers to also buy online.

An interesting trait of Bulgarian online shopping reported by the article is the fact that only an estimated 10% of online sales are carried out using electronic payment. The majority of customers prefer to play safe and pay on delivery.

Despite official statistics specifying that only 2-3% of Bulgarians shop online, the Association's data suggest actual figures up to 20-30%, reaching even 80% for some social groups.

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Tags: online shopping, economic crisis, online trade, Internet

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