Describes what a company needs to know to take advantage of e-commerce in the local market and covers prominent B2B websites.
The Moldovan e-commerce sector has been expanding as internet access is becoming more widely available. The COVID-19 pandemic has underscored the need to develop online payments and online banking systems. Use of e-mail for business communication is increasingly common. Most companies have their own websites. A growing number of local businesses also use social media for marketing purposes. Official statistics reported that 525 Moldovan companies have e-stores. Internet banking is becoming increasingly popular. Access to wired Internet and mobile internet is increasing as the use of smartphones has spread and some local operators are already considering upgrading their infrastructure to 5G. Most large Moldovan banks offer online payment integration methods. The government is currently drafting a package of laws to stimulate e-commerce development.
Moldovans shop online primarily for clothing, shoes, electronic appliances, food, and travel. Payments are usually rendered upon receipt of merchandise rather than online. The total amount of purchases made online by Moldovans in 2020 was USD 277 million. About 80 percent of the population uses the Internet, and there is widespread internet coverage. Over 98 percent of localities have access to a fixed fiber optic connection and high-speed mobile Internet coverage is also 98 percent.
China-based and other international e-commerce websites are popular among Moldovans, primarily for online purchases of consumer electronics, with French and UK-based e-commerce gaining popularity in Moldova for clothing and footwear.
Moldova passed a law on e-commerce in 2004 regulating the main aspects of transactions over the Internet, introducing such terms as an electronic contract. New changes to the law were passed in line with Moldova’s EU Association Agreement/Deep and Comprehensive Free Trade Area (AA/DCFTA), focusing primarily on personal data protection.
The Government has developed a national digitization roadmap, which focuses on the development of e-commerce, promotion of online stores, the attraction of international e-commerce actors, and facilitation of cashless payments.
There are a few domestic e-commerce aggregators that compare prices on products sold online (such as Allprices), digitize sales of tickets for different public and social events (like iTicket), deliver restaurant food (Straus and iFood,) and help deliver products purchased online from a wide range of U.S. retailers to Moldova (Pesoto).