Slovakia

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Payments

Preferred Payment Methods

76% of shoppers used mobile payments when shopping online, and a further 33% used prepaid cards. Credit cards were also used online accounting for 17% of purchases.[1]

Digital Invoicing

TBD

Customer Experience

Consumers in Slovakia do not use loans to finance their shopping needs as is the habit in most Western economies, which is why stable incomes are essential to local consumers.[2]

Payments Regulation

TBD

Local entities

TBD

Mobile payments

Online payments from mobile phones are not very popular as consumers rely more on other mobile devices, such as tablets. The ability to pay with smartphones in selected stores will be available in Slovakia only from mid-2013.[3]

Logistics

Major global organizations such as DHL, FedEx, UPS and others operate in Slovakia and offer express delivery services. Transit times vary but for packages shipped from the U.S. to Slovakia, the average time is 2-4 days, including the customs clearance process.[4]

In 2016, Slovakia was ranked 41st in the World Bank Logistics ranking. 54% of Slovakia’s population reside in urban areas.[5]

Infrastructure

Slovakia has two major ports on the Danube river, in Bratislava and Komarno. Both ports are operated by the Slovak Shipping and Ports company.[6]

Import Duties

Shipments from countries that are not part of the EU with a value of up to EUR 22 are exempted from customs duty and VAT. Shipments with a value of up to EUR 150 are exempted from customs duty except for perfumes and toilet waters, alcoholic beverages, and tobacco and tobacco products purchased in e-shops.[7]

Marketing

Many companies, both Slovak and foreign, specialize in advertising, and they vary considerably in quality. Internet, newspaper, radio and television are the most common means of advertising. Private radio stations offer advertising in all metropolitan areas, and billboards are used in cities and along main highways.[8]

Total Marketing spend in Slovakia has risen in recent years, as advertisers steadily invest more in digital advertising. Digital has grown to the second highest market spend reaching 55 million USD. Television is the highest market spend accounting for 115 million USD.[9]

Shoppers

Many younger Slovaks speak English, and the general population is highly interested in American entertainment products. Many consumers who have already purchased fiber optic connections belong to a market segment that is receptive to cutting-edge technology.[10]

Social Media

Slovakia’s Social Media Penetration is 45% accounting for 2.46 million people in 2017, with this expected to reach 2.63 million people by 2021. Facebook is by far the leading social network. Twitter and LinkedIn are also popular.[11]

Major shopping categories

The most commonly purchased products are consumer goods, electronics, software, voice, data and TV services, household appliances, furniture, hobbies, music, video on demand, cosmetics, toys, airline tickets, holiday trips, tickets for cultural events, and clothes.[12]

Major retail holidays

TBD

Legal / Regulatory

On 1 February 2004 the new law on E-Commerce entered into force in Slovakia. The law defines basic concepts from the field of electronic commerce, such as “Information Society services”, “providers and consumers of Information Society services”, “business communication” and what is referred to as the co-ordinated field.[13]

FX Policies

TBD

Technology

Even though the majority of Slovak households are already connected to the internet, many consumers are still relatively reserved about shopping online and are exploring it tentatively. Consumer interest in online shopping is seeing dramatic increases as consumers increasingly compare products and prices online.[14]

Dividing internet usage into age groups, gives a better picture of the Slovakian eCommerce market. 98% of 16-24 years olds log on daily, 91% of 25-34 year olds, and 83% of 35-44 year olds. The older generations log on regularly with 45-54 year olds showing a 74% daily penetration rate, and 64% of those over 55 logging on daily.[15]

Security

TBD

Mobile appetite

Smartphone penetration is 54% and is projected to grow to 62% by 2021. 90% of online shoppers in Slovakia shop online via desktop. 4% of shoppers make purchases via smartphone, and 3% made their most recent purchase via tablet.[16]

References

  1. eShop World "Slovakia eCommerce Insights"
  2. TheDaily.sk "Slovaks Switching Increasingly to Internet Shopping"
  3. TheDaily.sk "Slovaks Switching Increasingly to Internet Shopping"
  4. Export.gov "Slovakia Country Guide"
  5. eShop World "Slovakia eCommerce Insights"
  6. Export.gov "Slovakia Country Guide"
  7. Export.gov "Slovakia Country Guide"
  8. Export.gov "Slovakia Country Guide eCommerce"
  9. eShop World "Slovakia eCommerce Insights"
  10. Export.gov "Slovakia Country Guide eCommerce"
  11. Export.gov "Slovakia Country Guide eCommerce"
  12. Export.gov "Slovakia Country Guide eCommerce"
  13. Merlin "Slovakia New eCommerce Law"
  14. TheDaily.sk "Slovaks Switching Increasingly to Internet Shopping"
  15. eShop World "Slovakia eCommerce Insights"
  16. eShop World "Slovakia eCommerce Insights"