Online Trade in Bulgaria Has Grown by 8.83% in 2020

Online trade in Bulgaria grew by 8.83% last year on an annual basis. In total for the last five years the annual growth of this digital segment in our country is between 21% and 35%, according to a study by the Bulgarian E-Commerce Association (BEA).

The past year has been a turning point for the development of online commerce. The closure of physical sites for long periods of time has forced many businesses to reorganize their operations and rely on a stronger Internet presence.

This has led to a significant increase in new inquiries for online stores and other digital projects according to Lyubomir Rusanov, managing partner of SuperHosting.BG and a member of BEA, this trend will continue to expand its influence, even after the pandemic subsides.

Automation and artificial intelligence will still be at the heart of the sector's development. This means that in order to sell more successfully, Bulgarian retailers need to constantly invest in innovations that will bring them opportunities for better customer service, flexibility, visibility and even easier management of business processes. -the new report of the Bulgarian E-Commerce Association.

Having an e-shop is the basis that needs to be upgraded with investments in a number of other technologies, digital marketing and a better consumer experience (UX, UI), experts say. SuperHosting.BG and BEA recommend business owners to rely on technology partners who have proven experience in digital services and who can provide them with support services.

Forecasts suggest that in three to four years, trade will become largely mobile.

The consumer survey shows that purchasing surveys in most cases start over the phone, whether the order is made online or from the merchant's...