Demographics

Slovakia, or the Slovak Republic, is located in Central Europe surrounded by water bodies. Ukraine, Poland, Hungary, Czech, and Austria neighbor the country. Interestingly, Bratislava, the capital city of Slovakia, is the only capital worldwide that borders two countries. The country has several nature reserves, including 14 protected landscapes, 9 national parks, and over 1300 mineral springs.

The current population of Slovakia is 5.4 million and equivalent to 0.07% of the global population. It covers a total area of 48,088 Km², with 53% of the people living in the urban setup. Slovakia is said to be among the top three countries with the most beautiful women in the world!

Average salary

Slovakia has been using Euro as its national currency since 2019. A full-time working adult in Slovakia earns around 2,180 EUR per month, including housing, travel, and other benefits. The highest average salary in the region is 9,740 EUR while the lowest is 550 EUR.

Economy

The economic freedom score of Slovakia is 66.8, which makes it the 60th freest economy according to the 2020 Index. The overall score of Slovakia is well above the global average but lives slightly below the regional average. It ranks 32nd among the European countries. However, the overall score has risen by 1.8 points since the previous year. The government is making efforts for improvements in the service sector to add to the GDP. Currently, Slovakia’s GDP is expanding at a healthy rate. Dropshipping to Slovakia can also prove to be beneficial for the economy.

E-commerce in Slovakia

It is reported that 22 million Slovaks shop online, accounting for $1,124 million worth of sales in 2020. Consumer awareness in the country is increasing, and people are ready to pay more for quality products now. However, the price still stays a major contributor to the sales. More and more people are choosing e-commerce now. Mobile penetration and internet connections are playing a significant role in e-sales in Slovakia.

The mobile penetration is 139%, with 7.62 million mobile connections. 4.64 million of the total population use the internet, and 4.03 are active social media users. Goods worth $1.12 billion were sold in 2020.

Payment Methods

Mobile payments have been observed to be the most trending in the Slovakian online shopping trends. Some people also opt for other options like prepaid cards, credit cards, e-wallets, and bank transfers. However, bank transfers are the least used mode of payment in Slovakia.

Payment methods in Slovakia

Popular Products

Fashion and beauty, and physical media and electronics make the highest sales in the Slovak market after travel. Travel accounts for total sales of $731.8 million, followed by fashion and beauty sales worth $413 million. Electronics and, food and personal care made $309.6 and $103.2 respectively.

Future of e-commerce

The Slovak e-commerce market shows an expansion in the near future reaching $1,233 in 2021. The user penetration in the region is expected to be around 56.8% in 2025 from the current 50%.

Dropshipping to Slovakia

If you are invested in expanding your business, Dropshipping to Slovakia can be the ideal plan. Dropship your products to Slovakia with Wefullfill at the most affordable rates, yet swift delivery!