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Germany’s e-commerce market potential explodes, with online sales reaching US$85 billion

release date:2024-05-15 17:00 views:266153

1. Sales growth The North American market is mature and there is a red sea, and emerging markets such as Southeast Asia and Latin America have relatively low unit prices. For cross-border sellers, if they want to find a market with complete infrastructure, strong consumption power, and not too fierce competition, Germany may be the place to go. would be a good choice. Recently, the German Chamber of Commerce released a 2024 German online data monitoring report. The data shows that German online sales will reach 85 billion euros in 2023, a year-on-year increase of 1%, of which nearly 47 billion euros of sales are completed through smartphones. Accounting for 55%. Simply put, online platforms have become an important sales channel for German retailers, and their importance continues to grow over time. In the past year, 54% of online sales in Germany were generated through online platforms, with big brother Amazon leading the list. In addition to Amazon, other e-commerce platforms are also developing well in Germany. Therefore, it is not too late for sellers to enter the market. There is still a considerable market waiting to be explored. In detail, among all online sales, clothing and accessories, consumer electronics, leisure and hobbies, fast moving consumer goods, etc. are still the most popular, while categories such as jewelry and watches, office and stationery, DIY and gardening occupy a smaller share. Therefore, sellers who have entered the German market can refer to the data to see whether the category they operate is suitable for entering the German e-commerce market. In addition, HDE also predicts that online sales in the German e-commerce market will grow by 3.4% in 2024, and the online share of the retail industry is expected to reach 13.1%. In the entire European e-commerce market, it is a very eye-catching performance. 2. Prospects are bright Frankly speaking, Germany has a huge advantage when it comes to e-commerce. The first is population. Germany has a population of more than 80 million, ranking second in Europe. Second is the Internet penetration rate of more than 80% and extremely high consumption power. Under the influence of multiple factors, Germany has become the best quality in Europe. One of the markets. Precisely because of its huge advantages, this market also gathers enough e-commerce platforms. First, let’s take a look at Amazon. According to the 2023 annual report released by Amazon, its turnover reached 34 billion euros last year, an increase of 12% compared to the same period in 2022. As its influence continues to expand, Amazon’s growth in Germany It is bound to continue. As a cross-border newcomer, Temu is becoming more popular in Germany. As of now, Temu has 30 million page views per month, and before Christmas last year, its business volume even exceeded the astonishing figure of 35 million. In addition, there are also e-commerce platforms that are constantly taking measures to serve sellers and consumers. For example, in response to the characteristics of the German market, OTTO announced the launch of a "fully managed" service, which can better leverage China's rich supply chain and help sellers layout the German market. It is worth mentioning that the development of the German e-commerce market is not all smooth. Previously, the German Digital Association Bitkom announced the results of a survey on German consumers’ shopping habits. The data showed that the online shopping return rate of German consumers was 11 %, only 24% of consumers surveyed said they have never returned goods purchased online. As for the reason, it is most likely because German consumers have higher requirements for product quality, so the probability of being dissatisfied with the purchased goods may be greater. Generally speaking, Germany has broad development space, but consumers also have higher pursuit of product quality. If you want to get a share of this potential market, the balance between the two still needs to be carefully considered by sellers. , it is best to be more patient in long-term layout, deeply understand market characteristics, and grasp changes in demand.