CYPRUS: More Cypriots turning to online shopping from overseas

Cypriots are exhibiting an ever-increasing preference for online shopping as parcels arriving from abroad are at an all time high.

Parcels arriving from abroad during 2017 reached to 1.4 million, up 27% from the 1.1 million in the previous year.

According to data released by the Office of Electronic Communications & Postal Regulations (OCECPR), incoming parcels have reached their highest number since data started being collected in 2005.

The number of incoming packages amounts to 1.6 items per inhabitant, as opposed to 1.34 items in 2016, according to the OCECPR.

The rise in the number of incoming parcels is attributable to the increase in orders being placed by Cypriots with online retail firms as Amazon, eBay and China-based Alibaba.

In terms of market share in the international courier services, DHL has the largest market share on items arriving and leaving the island at 39.8%, followed by UPS with a 17.4% share. The market share for the Cypriot post office amounts to 11.8%.

Companies such as TNT express, Aramex, AQsAir Courier, GAP Vassilopoulos (FedEx) make up the list with a smaller piece of the delivery business.

Meanwhile, despite the increase in parcels arriving from abroad, the turnover of the Cyprus postal services decreased to EUR 21.2 mln in 2017 from EUR 21.7 mln in 2016.