E-commerce has emerged as a crucial pillar for economic growth in Spain and Portugal, driving business competitiveness and promoting digitalization in both countries. The e-commerce market in the Iberian Peninsula is projected to reach €112 billion by 2024, with Spain dominating a market eight times larger than Portugal, according to the latest CTT Express Ecommerce Study.
The study reveals that 40% of consumers in Spain make at least one online purchase per month, solidifying this channel as a preferred choice. Meanwhile, in Portugal, a recent ICEX study forecasts a turnover exceeding €6 billion by 2027, with 86.4% of the population currently using the internet and 62% shopping online—a figure expected to rise to 71% within three years.
The sectors with the highest online demand in both countries include apparel (65%), technology (40%), and pharmaceuticals (18%).
Leticia Martin Santiago, CTT Express's communications director, notes, 'The integration of the market between Spain and Portugal is becoming increasingly strong, and the rise of e-commerce is a clear demonstration of this synergy. A growing number of companies recognize the importance of having a delivery network that spans the entire Iberian Peninsula to meet new consumer demands and adapt to an ever-evolving market.'