The CNMC confirms a very strong start to the year for e-commerce: €25.752 billion in revenue (+18.2% year-over-year) and 474.1 million transactions (+14.9%). Travel agencies and air transportation lead in revenue; online gaming tops the list by number of purchases.
The latest quarterly update from CNMCData shows that online spending in Spain has gained momentum beyond the base effect of 2024: more tickets and more transactions. In terms of revenue, the sectors with the greatest share are travel agencies and tour operators (9.4%) and airlines (6.7%); by transactions, the top categories are gaming and betting (8.5%), followed by restaurants (7.0%) and land transport (6.7%).
Key Snapshot (Q1-2025)
- Overall revenue: €25.752 billion (+18.2% YoY).
- Transactions: 474.1 million (+14.9%).
- Top revenue sectors: Travel (9.4%) and airlines (6.7%).
- Top purchase categories: Gaming & betting (8.5%), restaurants (7.0%).
Cross-border: Spain buys more abroad than it sells to foreigners
56.5% of revenue stems from purchases from Spain abroad; the remaining 43.5% is spent on domestic sales and inbound purchases (sales within Spain + international purchases from Spanish e-commerce). The net outward balance is –€11,237 million. By number of transactions, 65.7% of purchases are made from foreign businesses.
- Spending from Spain → abroad: €14.562 billion, +14.6%; 94.2% within the EU.
- Foreign sales → Spain: €3.325 billion, +21.7%; 62.7% from the EU. Tourism (agencies, airlines, land travel, rentals, hotels) accounts for 63.6% of these purchases.
What does cross-border spending include?
- Spain → abroad: auxiliary financial services (10.1%) and fashion (8.7%) as top categories.
Within Spain: the “cash” grows 23.8%
Intra-Spain sales reach €7.866 billion (+23.8%). Leading are public administration, taxes, and social security (7.4%), followed by food, fuel, and tourism activities, signaling normalization of online payments for public services and recurring digital spend.
What does this mean for the tech sector?
1) Logistics: density and reach. Double-digit growth in order volume forces optimization of last mile (dynamic routes, lockers, delivery windows) and reverse logistics, directly impacting SLA and cost per delivery. The tourism rebound adds seasonal peaks at airports and destinations. (Base metrics: growth in total orders and tourism.)
2) Payments and fraud: more cross-border, higher risk. With 56.5% of spending leaving the country, exposure to non-domestic acquiring methods and rules increases. Priorities: tokenization, adaptive 3DS, AI scoring, and frictionless authentication to sustain authorizations without increasing false positives.
3) Data & AI: real-time merchandising. Growth in gaming/restaurants transactions and travel revenue suggests strategies like contextual offers (bundles, upgrades, add-ons) and dynamic pricing trained on seasonal data and multichannel intent signals.
4) SME internationalization: the EU as the “primary market”. Since 94.2% of outbound purchases stay within the EU, localizing for Europe (language/VAT/PSD2/return policies) is the shortest route to turn cross-border into direct sales. Pan-European marketplaces and shared fulfillment accelerate entry.
5) Business observability: key KPIs.
- Cross-border take rate, authorization by BIN/country, LTV by origin.
- Unit logistics cost and on-time delivery rate by region.
- Mobile conversion in high-abandonment funnels (travel, events).
All with geographical segmentation (Spain/EU/rest) aligned with CNMC cut-offs.
Top 10 verticals by revenue share
- Travel (agencies/tour operators) 9.4% · 2) Airlines 6.7% · 3) Fashion 5.9% · 4) Financial auxiliary services 5.8% · 5) Gaming & betting 4.9% · 6) Hotels 3.6% · 7) Food 3.4% · 8) Entertainment 3.3% · 9) Restaurants 3.2% · 10) Department stores 3.1%.
Top 10 by number of purchases (transaction share)
- Gaming & betting 8.5% · 2) Restaurants 7.0% · 3) Land transportation 6.7% · 4) Fashion 5.3% · 5) Transportation-related activities 4.1% · 6) Department stores 2.9% · 7) Fuel 2.7% · 8) Food 2.6% · 9) Content management & ads 2.5%.
FAQ (for ecommerce and product managers)
Why is the external balance negative if foreign purchases are also increasing?
Because spending from Spain abroad (€14.562 billion) greatly exceeds international purchases from Spanish merchants (€3.325 billion), resulting in a deficit of –€11.237 million for the quarter. This indicates opportunities in international acquisition and retention (programs, competitive shipping, easy returns).
Which markets should be prioritized to sell abroad quickly?
According to CNMC data, 94.2% of Spain’s outbound purchases go to the EU: less regulatory/logistical friction, common VAT, and PSD2. Starting with France, Italy, Germany, Portugal generally maximizes conversion.
How to make 3DS compatible with mobile conversion?
Implement adaptive 3DS (risk-based SCA), delegated authentication via wallets, and TRA exemptions with robust anti-fraud models. Goal: high authorization rates without UX penalties during peaks (travel/events).
What metrics should I monitor if I operate in “fast” verticals (restaurants, transport, gaming)?
- Checkout latency (< 2 seconds on mobile).
- Authorization rate by payment method and BIN/country.
- Churn and retry rates in subscriptions/deposits.
- Pattern fraud detection (bot spikes, multiple accounts).
Always cross-reference with device traffic and peak hours.
How to interpret a 23.8% growth “within Spain”?
It points to digitalization of recurring spending (administration/services) and recovery of consumption in daily verticals. An opportunity for A2A/instant payments, link-to-pay, and responsible BNPL financing.
Source: CNMC, Electronic commerce in Spain grew 18.2% in the first quarter of the year. Report tables and graphics (I-25).