Financial Insights

Alibaba is ramping up in Europe, and is already ahead of Amazon in one region.

Beijing-Alibaba continues to invest in Europe for Singles’ Day again this year as Chinese tech giants compete with Amazon in the European Union’s explosive e-commerce market.

According to Euromonitor International, Alibaba continued to be one of the three largest online distributors of consumer goods in Eastern Europe last year.

Amazon was not on the top 10 list in the region, including countries such as Poland and the Czech Republic. According to Euromonitor, Amazon is by far the top seller in Western Europe, including France and Spain.

However, the market share of the US e-commerce giant in the region did not grow during the pandemic, reaching about 19.3% in 2020.

In contrast, Alibaba’s market share rose to 2.9% in 2020, up from 2% last year.

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