According to the latest report by IMARC Group, titled “Germany E-Commerce Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the Germany E-commerce market is expected to grow at a CAGR of 24.5% during 2022-2027. E-commerce, or electronic commerce, refers to a business model that allows individuals and firms to buy and sell products and services over the internet. It deals with online ticketing, online auctions, customer support, payment gateways, internet banking and financial services, including stock investing and online banking facilities. E-commerce platforms also allow consumers to pay through their preferred online payment methods such as PayPal, invoice, and credit and direct debit. In Germany, e-commerce is gaining traction as a substitute for brick-and-mortar stores as it offers enhanced convenience and doorstep delivery of commodities.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Germany E-Commerce Market Trends:
The Germany e-commerce market is primarily driven by the increasing penetration of the internet and the growing use of smartphones. The availability of better connectivity and the development of 4G and 5G technologies that provide seamless and uninterrupted services have also propelled the market growth. Besides this, e-commerce offers numerous benefits such as easy access to information, real-time shipping and delivery status, secured payment gateway, and discounts and cashback. In addition to this, e-commerce platforms are extensively promoting their sites through social media. Furthermore, e-commerce enables enterprises to conduct business without maintaining a physical presence, thereby reducing the infrastructure, communication and overhead costs. Furthermore, technological advancements associated with smartphones simplify the shopping experience and offer ease of shopping from remote locations. Moreover, the outbreak of coronavirus disease (COVID-19) has encouraged individuals to use e-commerce platforms for ordering essential items amid lockdown and social distancing measures.
- Based on the type, the market has been segmented into home appliances, apparels, footwear and accessories, books, cosmetics, groceries and others.
- On the basis of the transaction, the market has been classified into business to business (B2B), business to consumer (B2C), consumer to consumer (C2C), and others.
- The competitive landscape of the market has been examined, with some of the key players being Amazon.com, Inc., Ebay Inc., Idealo (Axel Springer SE), Lidl Stiftung & Co. KG, MediaMarkt, OBI GmbH & Co. Deutschland KG, Otto GmbH & Co KG, Tchibo GmbH, Thomann GmbH and Zalando SE.
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