PUBLISHER: yStats.com | PRODUCT CODE: 1486392
PUBLISHER: yStats.com | PRODUCT CODE: 1486392
Retail E-Commerce Sales in Germany are Expected to Reach Over EUR 100 Billion by 2027, According to the Latest Report by yStats.com
Germany's Retail Landscape Growth
Germany's retail sector is anticipated to exceed EUR 600 billion in 2024, with online sales contributing over 13%, reaching double-digit billions. Retail e-commerce sales are projected to surpass EUR 100 billion by 2027.
Social Commerce: A Key Driver in Consumer Engagement
Social commerce plays a vital role in Germany, leveraging platforms like Instagram and TikTok to enhance shopping. About 90% of German consumers view it positively, with over half making purchases this way. However, many companies haven't fully utilized social commerce, presenting a significant opportunity to boost customer engagement and market presence.
Payment Trends and Challenges in E-Commerce
In 2023, PayPal and payment by invoice were the leading B2C E-Commerce payment methods in Germany. Real-time transactions are expected to grow at a CAGR of over 24%, reaching over 3 billion transactions by 2026, with their share in transaction volume nearly doubling. Despite these advances, more than half of online merchants reported increased B2C E-Commerce fraud in 2023, highlighting the need for better security.
Germany's 2024 E-Commerce: Fashion Leads, FMCG Grows, and Player Overview
In 2023, fashion dominated Germany's B2C E-Commerce market, accounting for over 20% of sales. The FMCG sector is expected to see significant growth online in 2024. In April 2024, Amazon.de was the top B2C E-Commerce site, capturing over 20% of total traffic, while Temu emerged as a strong competitor with aggressive marketing and low pricing.