Dark Mode
Image
Saturday, 28 January 2023
NFTs Take Off in Romania as the Economy Improves and Regulation Keeps Prices low

NFTs Take Off in Romania as the Economy Improves and Regulation Keeps Prices low

2022-10-29

 

In the past few years, a number of e-commerce startups have started to take root in Romania. Even though these businesses are small in number, the emergence of these startups has had a big impact on the e-commerce industry in the country. At the moment, the e-commerce industry is booming in Romania. There are a number of reasons for this. The Romanian economy is improving, especially when it comes to the positive impact of regulations on companies’ expenses and prices. However, the e-commerce industry as a whole is still a very young industry, and its regulations are still being finalized. As a result, the e-commerce industry in Romania is still in its infancy.

However, this is good news for those who are looking to get into the e-commerce business in Romania. Romania is a very cheap country to operate an e-commerce business from. The average cost of starting an e-commerce business in Romania is very affordable. According to some estimates, the cost of starting an e-commerce business in Romania is less than $250,000. In other words, the potential cost of operating an e-commerce business in Romania is very low. This is because Romania is a highly developed e-commerce market with a growing user base. In this article, we are going to discuss everything you need to know about the Romanian e-commerce industry and its potential.

What is the Romanian E-Commerce Industry?

The e-commerce industry in Romania is small and rapidly growing. In the first six months of 2017, the number of online retailers increased by almost 50% year-over-year, according to estimates. There are around 80,000 businesses active in the e-commerce industry in Romania, numbered among them more than 50,000 SMEs, many of them based in the Bucharest and Iasi areas.

How dynamic is the Romanian e-commerce industry?

As we haveseen, the e-commerce industry in Romania is still relatively young, with just a few years of steady growth. But it has seen immense progress in the past couple of years. In the first half of 2016, the number of online retailers in Romania increased by 26.1%. This growth was even more impressive when one takes into account that the same period last year saw an 11.4% drop in the number of online retailers in the country, as cited by the statistics office of Romania. How big is the Romanian e-commerce market?

 

 

 

The number of online retailers in Romania increased by more than 50% between the third and sixth quarters of 2016, which is a huge growth rate. The market size of the e-commerce sector in Romania is expected to reach $9.9 billion by the end of 2021, according to some estimates. This enormous potential is largely due to the fact that traditional retailers are either being acquired or going out of business. As we know, e-commerce is the future, and traditional retailers are not able to keep up with the changes.

How to succeed as an e-commerce startup in Romania?

In order to succeed as an e-commerce business in Romania, you need to adapt quickly to the various regulations that the industry is subject to. For example, the list of prohibited goods and services on the websites of online retailers is still being worked out, and there are currently no penalties for violating these rules. In addition, there is no central authority that regulates the entire e-commerce industry in Romania. Each region has its own authority responsible for controlling goods and services on the internet.

Final Words

The e-commerce market in Romania is growing very rapidly, with more than 50,000 businesses currently operating in the sector. The market is expected to double over the next five years, according to some estimates. In order to take advantage of this growth, it is essential for e-commerce startups to get a grip on the various regulations that are currently in place.

 

Comment / Reply From