In the last 2 years we have witnessed the explosion of online sales in Greece since we have been forced to a large extent. However, the pandemic being the digital accelerator has enabled everyone to see the benefits of online shopping from both the consumer and business perspective.
Indeed, after the last lock down was lifted, a large proportion of consumers opted for physical transactions, trying to return to normality after months of isolation. However, online turnover from €5 billion in 2017 for Greece is estimated to reach €15.8 billion for 2022, while from 2.68% contribution to GDP it is projected to close at 7.74% for 2022, according to a study by the Competition Commission, surpassing even the figure for 2020 (in the midst of the pandemic), and will be much higher than in 2019, which was 4.12% (€7.5 billion). ‘So if in 2019 one thought that online business “is the future” and thriving, today one can say that it is present – it was then too, of course, for many industries.
It was bubble and deflated after the pandemic many thought about digital businesses after the barrage of layoffs at Meta, Amazon and Twitter, but is this really the truth?
To answer the question let’s look at some more data. In 2017 of 45% of Greeks made online purchases, compared to 71% estimated to close this year, a percentage that year after year grows even after the pandemic (69% in 2021 , 59% in 2020, 51% in 2019). At the same time in even more developed markets such as the Netherlands, Denmark, etc. this number exceeds 90%, which means we still have a long way to go according to the E-Commerce Europe study.
At the same time, the growth of online turnover for 2022 is estimated to be 10% higher than last year, while the total for the EU will reach 13%.
Something that is difficult to assess, however, is the contribution of digital to offline. I.e. for example how many people do online market research before they end up in a physical store to buy. This phenomenon is called the R.O.P.O Effect (Research Online Purchases Offline) which means I research online and eventually buy from the physical store.
“The ROPO effect is a new trend in consumer behavior whereby customers research information online about products they are interested in to form an opinion before finally ending up buying it from a physical store. Wikipedia. However in Google it is recorded as a case as early as 2011.“
88% of consumers search online before making an offline purchase while 97% search online to locate a local business (reasonable nowadays) (Bghtlocal.com & Barilliance.com). According to Deloitte 56% of consumers search online while already in the physical store, influencing the decision they make in-store.
At the same time, let’s consider that there are many B2B and B2C businesses that offer services by searching for customers online while the final transaction takes place offline. According to the above not only does it seem not to deflate but on the contrary in many cases it is the only option or even a critical extension of physical stores.
RoiX.eu is a data driven performance marketing agency specializing in Lead generation & E-Commerce businesses. Through proper strategy, data analysis and online ad management it makes the most of the digital environment with tangible results for the benefit of its clients, for which it won a total of 10 awards for its clients in 2022 in two different institutions.
With the 360o analysis of the company, highlighting its strengths and methodical management of its online advertisements, Siakos.gr was named Company of The Year at the Boussias Meat Awards, winning a total of 6 awards:
- The Grand Prize of the Company of the Year category
- Gold for the promotion / promotion campaigns
- Gold for the promotion and promotion awards for the promotion and
- promotion campaign and the Gold for the delivery services
- Silver for its online services
- Silver for its customer service
- Bronze for its e-shop
While at the Peak Performance Marketing Awards supported by Google 2022 RoiX won for the effectiveness of its online ad management:
- Silver award in the Best Performance in Energy category for RevmaGo.gr
- Bronze award also in the Best Performance in Energy category for Thelorevma.gr
- Bronze award in the Best Lead Generation Campaign category for RevmaGo.gr
- Bronze award for the Best Scalable Campaign also for Thelorevma.gr
As time goes by, the competition will become more and more intense which creates a feeling of fatigue in some businesses, but all it takes is adaptability and meaningful translation of data into action.