The German e-commerce market is predicted to increase by 9% this year, meaning the online retail industry could be worth €57.8 billion at the end of 2019.
The latest figures come from Handelsverband Deutschland, and show a reversal of the declining growth rate of German e-commerce from the last few years.
According to the Handelsverband Deutschland retail association, the business-to-consumer e-commerce industry in Germany was worth €53.3 billion last year and is now predicted to increase by 8.5%. If this happens, e-commerce in Germany will be worth €57.8 billion at the end of this year.
When viewed across the total retail industry in Germany, companies remain divided about the nature of its growth. For the year 2019, 35% of companies surveyed expect a decrease in sales, 32% expect an increase, while the remaining 33% think the total retail sales will stagnate.
But when asked about the online sales expectations of the multi-channel industry, 64% expect an increase, while only 11% think these sales will decrease in the current year.
While the e-commerce industry in Germany is set to increase by 8.5% this year, the Bricks&Mortar retail is expected to grow just 1.3%.
E-commerce payments preference in Germany
Online shoppers in Germany (47 million in 2015) are keen on using invoice, as it is their preferred online payment method. According to a 2018 survey almost six in ten online customers in Germany pay afterwards whenever they’ve ordered something online.
But it’s not only invoice that’s popular, 34% of the German customers use credit cards (MasterCard, VISA or American Express). Other online payment methods that are often used are PayPal, ELV, GiroPay, Sofort Überweisung , RatePay and cash on delivery.
Another study, one from BITKOM, suggests that with 63% invoice is the most important payment method in Germany, followed by online payment services such as PayPal (56%), debit (46%), credit card (29%), immediate transfer/Giropay (26%), payment in advance (24%), cash on delivery (9%).
Online fashion is the most popular product category in Germany, followed by consumer media and electronics.
Especially in the categories ‘consumer electronics & computers’ and ‘media’ (books, music, movies, video games) German consumers are more keen on shopping online instead of shopping offline.
According to a study from BITKOM, 65% of German citizens have shopped online during 2012, up from 53% in 2008. The current European average is 45%. In Germany, 85% of people have access to the internet.
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