As the year 2024 is halfway though, let’s look at the status of Europeans SMEs to get a deeper understanding of the economic situation and opportunities. And there is a lot to take into consideration: Evolving Buyer’s preferences as well as international demands and challenges will ask for a lot of flexibility. In addition to all the challenges, however, there are also great opportunities for many sectors to adapt to customer-oriented requests and seasonal events. Let’s have a closer look at the most interesting data of ep in Q2 2023 barometer.
Most searched items
As in the ep Barometer Q2 2023, the categories Cosmetics, Clothing and Food secure the top three places for the most searched products on the europages platform. A strong sign for the further development of consumer-oriented-demand, especially focusing on cosmetics and clothing as a fast-changing industry.
Tremendous growth in searches for waterproofing products
Once more, the construction business shows its enormous potential on European B2B platforms: With an impressive growth of 952,59% compared to Q 2 2023, the field of waterproofing construction products score the highest increase in product searches, followed by medical electronics (498,85%) and steels and metals (412,30%). Demand for waterproofing products has surged, particularly after the last Barometer documented a substantial rise. The surge in demand for waterproofing products can likely be attributed to two factors: the booming global construction market and the recent increase in extreme weather events. This highlights the growing importance of ensuring waterproof building materials and construction practices to create a sustainable built environment.
Shifts in product searches
With the top 3 product increases compared to Q1 2024, we see a revealing picture of buyers’ interest: Mobile communications secure first place (91,47%) among the products that received the highest growth in search queries in Q2 2024. This is certainly due, among other things, to the many new cell phone products that technology giants such as Samsung, Google Motorola and Samsung have recently presented or announced. Major international sporting events such as the Olympics and the European Championships in men’s soccer also had an impact on inquiries: demand for sports shirts rose by 79.44% compared to Q1 2024, making the sports sector another important driver of B2B growth.
Worth mentioning: Products relating to snails moved up to third place among the search queries with the most growth, underlining the gardening season and the use of snail in cosmetic industry.
France leading the ranking in Q2 and year-to-year
Once again, France has secured the top spot when it comes to search queries – France is number 1 compared to both the Q2 2023 data and the previous quarter. France is also the country with the most queries – both in a year-on-year comparison and in comparison, to Q1 2024. An impressive fact, underscoring France’s prominent role in product searches and market interactions.
Italy keeps the 2nd place, ahead of Germany in the list of the most searched countries both year-over-year and quarter-on-quarter.
Focus on the second half of the year
As Q3 draws near, the upcoming months hold the potential for significant developments within the European SME sector which will be reflected in customer inquiries. Considering strategic year-end decisions, budget & campaign planning, seasonal factors like Halloween & Christmas will significantly influence the inquiry market. Also, we expect the Olympics to have a high impact on Q3 search demands and developments.
Key takeaways
Construction and consumer goods are in high demand: Waterproofing products saw the highest search increase (952%) followed by medical electronics and steel/metals. Cosmetics, clothing, and food remain top searched consumer goods.
Mobile communication and sporting goods are on the rise: Mobile communication product searches grew 91% likely due to new phone releases. Sporting good searches increased due to major sporting events.
France and Italy lead the search queries: France has the most overall search queries, while Italy is the second most searched country year-over-year and quarter-over-quarter.
Source from europages
Disclaimer: The information set forth above is provided by europages independently of Alibaba.com. Alibaba.com makes no representation and warranties as to the quality and reliability of the seller and products. Alibaba.com expressly disclaims any liability for breaches pertaining to the copyright of content.
