Online revenue in Spain has increased 13.1 percent year-over-year in 2024. The total online revenue came to 95.2 billion euros. In the last quarter of the year specifically, online turnover increased 13.4 percent compared to a year earlier.
This is according to new data from the Spanish CNMCData portal. It is a portal that is run by the national authority for markets and competition. In 2023, ecommerce in Spain generated a revenue of 84 billion euros. Compared to a year earlier, that was an increase of 16 percent.
25.7 billion euros in turnover in Q4
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In April, we already wrote that in the third quarter of 2024, Spanish ecommerce increased 12.6 percent compared to that same period in 2023. The new data for the full year are in line with these previous results.
2024 showed the lowest year-over-year growth in a fourth quarter
According to the data, online revenues in the fourth quarter of 2024 reached 25.7 billion euros. Compared to that same period in 2023, this was an increase of 13.4 percent. While this is the strongest growth measured in a quarter last year, it is the lowest year-over-year growth recorded in a fourth quarter since the ecommerce boom during the pandemic.
Highest amount of online transactions
The amount of online transactions has also increased in Spain last year. In total, around 1.8 billion transactions were recorded. This is the highest figure in the history of ecommerce in Spain. In the last quarter of 2024, the amount of transactions reached 479 million. This was an increase of 10.7 percent, compared with that same period a year earlier.
Travel sector showed highest performance
The sector with the highest online revenue was travel agencies and tour operators. It accounted for 7.9 percent of total online turnover in Spain. In 2023, the sector also ranked at the top. In second place came clothing, with 6.6 percent of the online revenue last year.
Most Spanish online orders were placed at cross-border stores
A majority of Spanish consumers shop at cross-border online stores. At least 61.5 percent of revenue from purchases that originated in Spain went e abroad. Only 27.5 percent of revenue from local online purchases stayed in Spain. Another 11 percent of revenue destined for Spain came from consumers from abroad.
The net foreign balance came to a deficit of almost 13 billion euros
This means that the net foreign balance, the difference between purchases from abroad to Spain and purchases from Spain to other countries, came to a deficit of almost 13 billion euros. When looking at the amount of transactions, it becomes clear that 69.1 percent of transactions originating in Spain were placed at cross-border stores.
Local turnover also increased
While cross-border ecommerce seems to be dominant in Spain, the ecommerce revenue within Spain managed to increase. In 2024, online revenue generated by Spanish consumers that stayed in the country, reached 7.1 billion euros. This was an increase of 6.8 percent.
