To grasp the digital opportunity, incrementally improving IT performance isn†t enough. Enterprises and their CIOS need to
â€oeflip†from old to new in terms of information and technology leadership, value leadership and people leadership
2015 and beyond, to ensure that their enterprises survive and thrive in an increasingly digital world
a unique opportunity, but they must â€oeflip†their information technology, value and people leadership practices to deliver
%Services 9 %Education 7 %Insurance 7 %Healthcare providers 6 %Retail 5 %Transportation 4 %Utilities 3
%Communications 2 %Wholesale trade 2 %3visit gartner. com/cioagenda Last year†s CIO Agenda, â€oetaming the Digital Dragon, †explained how we were moving beyond IT
effectiveness) into a third era of enterprise IT, where digitalization is transforming business models and determining who will win.
set of digital technologies, trends, opportunities and threats is creating yet another competitive frontier The 2015 CIO Survey and our most recent CEO Survey show that not only do CIOS expect,
In short, to start the â€oedigital cultural revolution†required to seize this opportunity, CIOS must â€oeflip†to
continual opportunities for growth, innovation and differentiation The third era of enterprise IT has arrived 4 Gartner Executive programs
EXECUTIVE SUMMARY These are not small changes. They demand commitment and focus from the CIO, and support from the
Seizing the digital opportunity requires agility, adaptability and speed. However, existing business processes, business models, information technology and talent suffer from legacy inertia and
â€oebad complexity. †Even IT planning horizons do not reflect the new era, with its potentially massive
business processes, business models and the business ecosystem Information and technology leadership Value leadership People leadership
Seizing the digital opportunity requires â€oeflipping†long-held behaviors and beliefs 5visit gartner. com/cioagenda
replacement services need to be architected, starting with the assumption that a public cloud solution will deliver services consumed in a mobile setting having a high level of contextualization.
This requires flipping from an inside-out â€oelegacy-first†to an outside-in â€oedigital-first†leadership mindset
This report†s case study enterprises are already exploring new digital technologies and trends. And experimentation with post-nexus technologies is creating the
Expose three types of investments: Fear, fact and faith Not all IT-intensive investments are the same,
and they should be separated into categories based on what motivates them: fear (keep the business running),
opportunity requires faith-based investments and management capable of dealing with them Value flip 1:
CIOS and their enterprises need to focus on all three phases of the benefits life cycle: plan
Transformative, faith-based investments in digital capabilities, platforms and the like entail a high degree of uncertainty, making it difficult to put together a credible cash-flow-based business case.
such as â€oereal option valuation†enable digital leaders to assess platform and capability investments as options for the future
To seize the digital opportunity, CIOS need to help the enterprise understand and get excited about
where digitalization can take the Business education and inspiration are central tasks for CIOS determined to be digital leaders.
enterprises using techniques shown in the figure opposite 9visit gartner. com/cioagenda Hackdays Percentage of CIOS using technique
approach (and by extension, that of their enterprise) to information and technology, value measurement and management, and people.
change in your enterprise •Do you have a network of qualified peers who can help you uncover
IT leaders in corporations and government agencies, to business leaders in high-tech and telecom enterprises and professional services firms, to technology investors, we are the valuable partner to clients in 9, 000 distinct enterprises
worldwide. Through the resources of Gartner Research, Gartner Executive programs, Gartner Consulting and Gartner Events, we work with every client to research,
knowledge economy EUROPEAN COMMISSION Directorate-General for Research and Innovation Directorate C †Research and Innovation
in the globalised knowledge economy Innovation Union Competitiveness papers Issue 2013/3 Europe Direct is a service to help you find answers
1. Europe†s position in the globalised knowledge economy...6 2. Technology profiles of the world†s major knowledge centres...
growth in the 1970s and the new opportunities presented by information and communication techno -logies. 1 Initially, the strategies concerned mainly the lower
end of the value chain driven by cost-related factors However, over the last decade the internationalisation
International competition for goods and services in the upper parts of the value chain is increasingly tougher
This process of networked production coupled with complementary services is backed by increasingly fungible capital. Foreign direct investments are growing and are
pushing countries to compete in terms of attractiveness and specialisation profile. With the economic crisis in Europe and the US, activities for incremental innovation
are located increasingly close to the more dynamic Asian markets. In the medium-term, what is at stake is
productivity growth, which relies on a larger part of the economy producing knowledge-intensive and high value
-added goods and services. Porter, 1990 This paper presents an overview of technology development in Europe in this context of a global
knowledge economy. It presents the latest data on the process of global technology development and future
prospects based on strategic knowledge assets. Special emphasis is placed on the differences in technology profiles of the world†s major knowledge producers.
at the same time transforming the broader economy. 2 An evidence-based approach is important for going beyond
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
knowledge economy The total amount of knowledge produced every year grew remarkably in the first decade of the 21st century.
investments in 2000 shows a 77%increase in real terms The total number of PCT patent applications in the world
This opens the door to new opportunities of international cooperation and to world progress in
Open Innovation strategies in increased competition for knowledge-based and high value-added goods and services
Capacities to produce knowledge are increasingly distributed around the world Theâ EU is a major knowledge centre
in the global knowledge economy The worrying trends for Europe are more in R&d investments
and PCT patents, 3 as illustrated in the graph below. The change in the world share of PCT patents highlights in
in Japan, China and other developed Asian economies 3 PCT: Patent Cooperation Treaty. †International†patent application seeking patent protection for an invention in several countries.
ii) Other Developed Asian Economies does not include SG and TW iii) BRIS does not include India and South africa
ii) Other Developed Asian Economies does not include SG and TW iii) BRIS does not include South africa
EU-28 United states Japan China Other Developed Asian Economies (KR+SG+TW) BRIS (BR+RU+IN+ZA) Rest of the World (5
Foreign investment dynamics and the increased pattern of sourcing parts and components from dispersed Global Value Chains indicate the globalisation
since it increases the competition between knowledge centres, triggering specialisation profiles. It can also be the
services can be measured by the composition and direction of overall foreign direct investment (FDI) flows
as well as by international financial flows oriented predominantly towards R&d. 5 The EU remains the most attractive market
although investments have fallen with the current economic downturn Concerning FDI, the data shows that the EU is still the
main destination in the world, representing 1/4 of FDI inflows worldwide, twice the level of the US or China
At the same time, emerging economies such as China and India have increased their share of total world FDI inflows
emerging economies are increasingly acting as FDI investors Even though non-EU firms increasingly consider comparative advantages for investment in geographical
areas other than the EU, the EU remains the major destination for foreign direct investments of US firms.
In 2011, â 242 billion of foreign direct investments were made in the EU from non-EU firms.
With the exception of the peak in 2007, this represents a recovery to the pre-crisis situation
Investment flows coming from North america to the EU have been by far the largest. Although investments coming from emerging markets are still low in absolute
terms, a gradual increase could be seen specifically from Asian and Central american investors, with investments from the former amounting to 19%of total FDI
investment flows to the EU 4 Expert group to the European commission, 2008 5 The globalisation of production can also be measured by input-output tables on trade,
indicating income generated from the global value chains. The most recent data 2011) is consistent with the overall finding of FDI data, namely of the EU€ s slightly falling but persisting world lead.
World share of Foreign Direct Investment (FDI), 2004†11 Foreign Direct Investment (FDI) Inflows †World Share
%0 %10 %20 %30 %40 %50 %2006 2007 2008 2009 2010 2011 2) EU does not include Special Purpose Entities (SPES) for Luxembourg, Hungary, The netherlands and Austria
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
etc. an increasing interest from emerging economies is seen in investments in technology and knowledge -intensive fields
With the economic crisis, outward foreign direct investment flows of European firms have reached the level of FDI flows inside the European union
In 2008, FDI of EU firms fell sharply. Since then, there has been a progressive increase in FDI outflows both within
the EU and to countries outside the EU. In 2011, the decreasing trend was reversed with extra-EU FDI outflows
peak of 2007, outward direct investments have returned to their pre-crisis values. The intra-EU FDI outflows have
Foreign Direct Investments in Europe by firms from other continents â 250 Africa South Americanorth Americacentral Americaasia
Foreign Direct Investments of European firms outside the EU Extra-EU FDI Outflows Data: OECD, Eurostat
Investments in science and technology represent a very significant part of the foreign direct investments of EU firms
Investments in manufacturing activities for petroleum chemical, pharmaceutical, rubber and plastic products still have the highest share of the EU outward investment
flows. However, these are followed closely by investments in professional, scientific and technical activities (financial services are taken not into account.
In 2010, the EU invested over â 50 billion in professional, scientific and technical activities in extra-EU countries, which
represented 17%of all extra-EU FDI that year The internationalisation of the economy has
moved to cover the higher end of the value chain, where the investment flows between
the EU and US dominate Globally, the internationalisation of business R&d is the result of relations between a small number of
countries. Figure 7 below illustrates these relationships for the manufacturing sector of the EU, the US, Japan
As for the investments in research and innovation, the figure below reveals the extreme importance of the
a deficit in the EU€ s R&d investment flows to the US Figure 5: Foreign Direct Investments inside the EU compared to extra-EU FDI outflows
Intra-vs. Extra-FDI Outflows Data: OECD, Eurostat Source: DG Research and Innovation †Economic Analysis Unit
%6 †Internationalisation of business investments in R&d and analysis of their economic impactâ€, Innovation Union Competitiveness paper 1/2012
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
Breakdown of Foreign Direct Investments by sector %of all extra-EU NACE sectors Data: OECD, Eurostat
Information and communication Manufacture of chemicals and chemical products Professional, scientific and technical activities Manufacture of petroleum, chemical, pharmaceutical, rubber and plastic
worldwide R&d investments, impacting mainly the most knowledge-intensive Member States Overall, businesses in the EU increased their expenditure
%This is in part due to sustained R&d investment by European firms, which expect their worldwide investments in R&d to grow further by an average of 4
%annually over the period 2012†14 Figure 8 below shows that this evolution affects mainly the knowledge-intensive Member States.
figure depicts the investments of R&d-intensive firms in absolute numbers as a share of total national
R&d investments financed by businesses in absolute numbers. The numerator is based on firm-level data by
in the country and abroad), these investments can be larger than the sum of R&d investments financed by
the businesses registered in the country (BERD data The values for the country in Figure 8 are in this case
Share(%)of Firm R&d investments in R&d financed by businesses in brackets, number of firms in the population
shares of top companies†r&d investments compared to berd 2005 2006 2007 2008 2009 2010 2011
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
internationalisation of business R&d investments. The number of firms in each country is indicated in brackets
business R&d investments in the country seem to have grown more than French and German firms†worldwide
R&d investments. The data for the United kingdom is particularly interesting, since the overall R&d intensity
With the globalisation of investment in research and innovation, different locations compete to attract investments but also to develop new and innovative
products and services for the global market. The competitive position of Europe depends in this context
not only on its accumulated knowledge assets overall but also on its relative technology profile being relevant for emerging world growth markets.
economic crisis. Technology production in the US when measured in PCT patent applications, was more heavily affected by the economic crisis, although
there has also been a clear recovery trend since 2010 Even though both the EU and the US have increased
Environment 34.7 %3 970 34.5 %4 839 42.0 %4 815 31.8 %4 456 20.8 %2 386
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
world†s knowledge economy in the decade to come Figure 12 presents a further step in disaggregation, in this case
share of Asian economies is also clear at this level. Already in 2008, Asia took the world lead in technology development for
and environment technologies. Overall, Asia is expanding its relative specialisation in all technology areas Figure 12:
Environment 34.7 %3 970 34.5 %4 839 42.0 %4 815 31.8 %4 456 19.8 %2 386
PCT patent applications addressing societal challenges †Environment Environment-related technologies †PCT patent applications (1) per billion GDP (PPSÂ), 2000-14 (2
0. 2 0. 4 0. 6 0. 8 1. 0 1. 2 1. 4 1. 6
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
specialisation in energy, environment and materials may in the medium term endanger the EU€ s world technology lead
¢Environment 1. 04 •0. 88 •1. 15 †¢Nanotechnologies 0. 83 •1. 16 •1. 07 â€
innovative enterprises if this supply is combined with demand-side measures and more general framework conditions for firm growth and entrepreneurship
Innovative firms operating in emerging growth markets benefit from first-mover advantages and growth potential
as advanced followers or adapters The competitive advantage of a country depends in the end on the strengths and interaction of knowledge
supply, home demand, firm strategies, competition related industries, and their interaction. Advanced and sophisticated home demand is emphasised
by Porter as an important factor for raising the national competitive advantage. 11 The existence of
demand-side innovation as companies are forced to satisfy their needs to remain competitive In 2005, a high-level European expert group revisited
bolder innovation policy combining supply and demand measures in growing business areas combining a large share of GDP with direct impact on the daily life of
climate change and resource scarcity. 14 This evolution is forecast to raise global demand in more sustainable
cities. A simultaneous and coordinated push of supply-and demand-side measures for innovative goods and services in
sustainable construction has large potential for high-growth innovative enterprises in Europe. The construction sector is
one of the largest manufacturing sectors in Europe and it has managed to update its R&d intensity over the last decade
pushed by demand-side measures such as standards regulation for energy efficiency, impact on the environment water and health, public procurement of construction and
market mechanisms. 15 On the supply side, initiatives at the EU level include the public private partnership on energy
strengths in green energy, the environment, ICT, materials and nanotechnologies. Countries with the right mix of
take up the market opportunities in sustainable construction fostering high-growth innovative enterprises; countries with a specialisation in one or several key areas complementing
the design of innovative goods and services have a clear value added to be integrated in specialised knowledge flows
and value chains. The European Research Area and the knowledge dimension of the single market can facilitate this
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
for construction, green energy, the environment and materials. Important technology potential can also be found in smaller countries, such as The netherlands
demand-side measures such as stricter EU regulations on passenger cars†CO2 emissions Figure 16 illustrates the science and technology
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
the EU opens the door to opportunities for network specialisation. Figure 16 shows that major centres for
Figure 17 reveals that there are large opportunities for networked technology collaboration with Norway combining specialisation in both green energy and other
and demand with networked specialisation The demographic evolution in developed economies is leading to an ageing population, with public health
systems under increasing cost pressure. Europe is experiencing this growing demand particularly strongly and therefore has large potential for †lead usersâ€
reflecting increasing global market demand. 19 Figures 18 and 19 illustrate the strengths and specialisation
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
competition and fungible R&d investment moving from one country to another, depending on market opportunities and specific knowledge assets.
Knowledge is increasingly important for the production of goods and services and this knowledge is becoming more widely distributed
geographically. FDI flows and production organised around global value chains establish knowledge centres in relation to each other for collaboration in related
fields, but also for competition in terms of attractiveness and specialisation profile. In this context, Europe is maintaining its strengths as a world centre of knowledge
However, Asian economies are growing very swiftly and have already overtaken the technology lead of Europe and the US in certain sectors
security, while Asian economies have taken the lead in ICT and reached a technology position on par with
Asian economies are specialised in ICT, energy and the environment However, Europe has the potential to strengthen its
competitive position in these converging technologies relevant for societal challenges and emerging growth markets. Building on the European Research Area and
Europe†s compet it ive technology prof i le in the g lobal ised knowledge economy
Economy, Society and Cultureâ€, Volume I: The Rise of the Network Society Blackwell Publishers Ltd, Oxford, UK
Market in Europeâ€, report of the taskforce on sustainable construction, in preparation of the EC Communication †A Lead
Schã n, L. 2009) †Technological Waves and Economic growth †Sweden in an International Perspective 1850-2005â€
-and demand-side measures to stimulate business investments in new technologies and innovative productsâ€, paper presented at the European commission Mutual Learning seminar 2012
Europe†s competitive technology profile in the globalised knowledge economy Luxembourg: Publications Office of the European union
the context of a globalised knowledge economy and increasingly tougher world competition for the upper end of the global
value chains. More geographically distributed world knowledge coupled with increasing international flows of foreign direct
investment is pushing countries to think more strategically about their technology profiles. This is particularly the case when
development of advanced home demand. The article presents Europe†s competitive position in the globalisation of knowledge
and investment flows as background to a more detailed analysis of Europe†s technology profile.
of the European B2c E-commerce Market of Goods and Services www. ecommerce-europe. euin cooperation
Impact of E-commerce on the Economy page 16 GLOBAL B2c E-COMMERCE IN BRIEF page 17-19
Services 5. e-logistics Franã§ois Momboisse President of Ecommerce Europe European B2c E-commerce Reports 2014
and services online and they do so from various places such as at home, at work, en route or in the highstreet and sometimes
influence on the European economy. Whereas the European Gross Domestic Product was more than â 16. 4trn in 2013,
infographics, we provide online retailers and other stakeholders with practical means that can help them to optimize their businesses
Therefore we want to use this opportunity to express our gratitude to all participating national associations and their individual research partners for
participating company members, business partners and stakeholders for their involvement. In addition, we are very grateful to the experts across the world who
more than 600 of the world†s most recognized e-commerce brands in the digital goods and services, travel,
Globalcollect†s business intelligence tools, Managed Fraud Services and more than 400 payments experts help our clients
Salesupply is a global e-business services company that enables online retailers to achieve profitable international growth faster, more
an opportunity is being missed to convert a browser to a buyer Success criteria Gfk makes use of the latest research techniques to understand each element of
and retailers are perceived by customers and how this perception translates to sales we can show the impact the user†s experience has
and services delivered on a daily basis from all corners of the globe cannot be discounted.
Whether there is an opportunity to take advantage of this or a need to create a defensive strategy,
benchmark those sales is going to continue to be important to all online players In the end, the ability to increase conversion
For merchants, there is still plenty of opportunity for growth by expanding into new European markets.
the regulatory environment, or in consumer behavior and expectations. At the same time, these merchants actively analyze
and identify opportunities Another big trend that is further maturing in 2014 is the application of big data
opportunities. By applying analytics and visualization to payments data merchants can track and compare performance per country, per payment method
reaching customers through the several touch points. This way, they will be able to create a flawless customer experience,
and holding on to customers Real-time experience The biggest challenge for companies will be real-time experience.
For customers it will not be enough to receive information tomorrow or even later today; they
customers. When shoppers are about to make a purchase, merchants should offer enticing product and/or service bundles.
concluded, customers should later receive recommendations through all channels regarding products and/or services that might be interesting to them
Pontus Kristiansson Vice president EMEA Richrelevance The mature online retail markets are saturated already highly and competition is
intense. To make sure that consumers choose, and continue to choose, your product or service over that of your competitors, you have to stand out from the
become more difficult for companies to personalize their services Still, e-commerce personalization is by no means impossible.
What web merchants can do is using the information that online customers leave behind when browsing the Internet,
the opportunity to give feedback, keeping them up to date about their orders and providing them with aftercare once they made a purchase
with customers. Potential buyers are now provided with reasonable suggestions based on previous site visits and purchases. Making their customers feel special is
one of the reasons why Amazon and Netflix are so successful nowadays â€oepersonalization Is Vitalâ€
Making Customers Feel Special Is the Key to Increasing Conversion Rates Henning Heesen Cross-Border E-commerce Specialist
products or services For a successful internationalization, your company has to gain the trust of your
This way, your customers in Latin america or Asia do not have to wait until the business day gets underway in Europe
more and more Asian enterprises want to do business with our continent. Some people see the Asian invasion on the European market as a threat,
but I mainly consider this a great opportunity for European companies to increase their market
Country Capital VAT Currency Population EU28 Austria Vienna 20%Euro (EUR) 8. 4mn EU28 Belgium Brussels 21%Euro (EUR) 11. 1mn EU28
Country Capital VAT Currency Population EU28 Albania Tirana 20%Lek (ALL) 2. 7mn Candidate Bosnia &
Impact of E-commerce on the Economy Gross domestic product The total Gross domestic product (GDP) of Europe is estimated to have reached around â 16.4 trillion in 2013
Internet economy in the GDP at 2. 2%,a percentage that is set to double by 2016 and to triple by 2020
parcels sent to customers domestically and cross-border to other (European countries at 3. 7 billion, a number that will
2013 Key B2c E-commerce Data of Goods and Services at a Glance Top 10 e-commerce countries in
*B2c & C2c goods & services, excluding insurances 7, 233 million people live in the world
Goods & Services â€oe1, 878 million estimated social media users† Ecommerce Europe June 2014 www. ecommerce-europe. eu
%Total B2c e-sales 2013 of goods and services 1 2 3 73.4 %Share of Internet users
European B2c E-commerce Market of Goods & Services www. ecommerce-europe. eu B2c E-commerce in Europe
2013 Key B2c E-commerce Data of Goods and Services at a Glance Top 5 mature e-commerce
%Services 32 %69 %100%â 363.1 bn Turnover E-commerce Goods & Services 645,000 +estimated online businesses
3. 7 billion +number of parcels annually (f Estimated share of online goods in total retail of goods
An Overview of B2c E-commerce Markets of Goods & Services in Western europe www. ecommerce-europe. eu
%Total B2c E-commerce 2013 of goods & services 59 %88 %100 %161 million people live in Western europe
Goods & Services 43.5 %Services 56,5 %Goods 9. 5 %Estimated share of online goods in
total retail of goods Estimated 72%of active Internet users are on social media E-commerce GDP 3. 45
2013 Key B2c E-commerce Data of Goods and Services at a Glance The netherlands Belgium France
An Overview of B2c E-commerce Markets of Goods & Services in Centrwarn-Font not found:
%Total B2c Ecommerce 2013 of goods & services 165 million people live in Central europe 130 million
Goods & Services 41.3 %Services 58.7 %Goods 7. 0 %Estimated share of online goods in
total retail of goods Estimated 72%of active Internet users are on social media E-commerce GDP 2. 20
2013 Key B2c E-commerce Data of Goods and Services at a Glance 1 Germany â 63,400
An Overview of B2c E-commerce Markets of Goods & Services in Southern Europe www. ecommerce-europe. eu
%Total B2c Ecommerce 2013 of goods & services 59 %212 million people live in Southern Europe
Goods & Services 57.5 %Services *42.5 %Goods *2. 3 %Estimated share of online goods in
total retail of goods Estimated 72%of active Internet users are on social media E-commerce GDP 1. 11
2013 Key B2c E-commerce Data of Goods and Services at a Glance Italy Spain Greece
When we look at the division between goods and services sold online services have become more popular in Italy
-services in the total Italian B2c e-commerce turnover amounted to 66 %Mobile commerce is booming in Italy.
An Overview of B2c E-commerce Markets of Goods & Services in Northern europe www. ecommerce-europe. eu
%Total B2c Ecommerce 2013 of goods & services 90 %100 %32 million people live in Northern europe
Goods & Services 49 %Services 51 %Goods 7. 2 %Estimated share of online goods in
total retail of goods Estimated 18 million social media users E-commerce GDP 2. 37 %Total GDP â 1, 349 bn
2013 Key B2c E-commerce Data of Goods and Services at a glance 1. Sweden â 8, 622
Denmark is Financial Products and Services. This is quite striking as it is a category that does not often appear in
Services 2. Travel and Cultural Activities 3. Film, Music, Books Games and Toys 4. IT, Telecom and Photo
and/or services in the last 12 months. On average, each Swedish online consumer spent â 1, 232 in 2013, resulting in
%An Overview of B2c E-commerce Markets of Goods & Services in Eastern europe www. ecommerce-europe. eu
%Total B2c Ecommerce 2013 of goods & services 56 %100 %248 million people live in Eastern europe
Goods & Services 25 %Services 75 %Goods 2. 1 %Estimated share of online goods in
total retail of goods Estimated 40%of active Internet users are on social media E-commerce GDP 0. 96
2013 Key B2c E-commerce Data of Goods and Services at a Glance Ukraine Romania 1 Russia â 15,500
General Overview Tables and Forecast of B2c European E-commerce Turnover of Goods & Services www. ecommerce-europe. eu
of goods and services, 2013 Countries 2010 2011 2012 2013 2014 (f Russia 29.7%29.2%32.7%50.5%16.1
as well as lobbying services From 1979 he managed the Dutch Mail order Association (currently Thuiswinkel. org), at first in The netherlands and later on at a European level
After graduating in Communication Sciences in 2004, he studied American Studies at Radboud University Nijmegen and graduated in 2008
practical e-commerce research and benchmark services Peter van den Brink, Trainee Research & Advice Peter van den Brink (1992) has worked for Ecommerce Europe since 2014.
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