In recent years, Germany has become one of the leading countries in Europe for ecommerce. With a population of over 82 million people, Germany is the largest economy in Europe and the fifth largest in the world. As such, it has become an attractive market for online retailers, with ecommerce sales expected to reach €77.5 billion by 2021.
The German ecommerce sector has been growing rapidly over the past few years, with a compound annual growth rate of 12.5%. This growth is largely driven by the increasing number of online shoppers in the country, which is estimated to reach over 40 million by 2021. This is due to the increasing availability of high-speed internet connections, as well as the rising popularity of mobile devices.
One of the key factors driving the growth of ecommerce in Germany is the increasing use of digital payment methods. According to a recent survey, nearly half of German consumers prefer to pay for their online purchases using digital payment methods such as PayPal and Apple Pay. This has made it easier for online retailers to accept payments from customers, which has in turn helped to drive sales.
Another factor driving the growth of ecommerce in Germany is the increasing number of online stores. According to a recent report, there are now over 400,000 online stores in Germany, with many more being added every year. This has made it easier for consumers to find the products they are looking for, as well as providing them with more options when it comes to price and selection.
Finally, the German government has also played an important role in promoting ecommerce in the country. The government has implemented a number of initiatives, such as tax incentives and grants, to encourage businesses to invest in ecommerce. This has helped to create a more favorable environment for online retailers, which has in turn helped to drive sales.
Overall, Germany’s ecommerce sector is growing rapidly and is expected to continue to do so in the coming years. With its large population, increasing use of digital payment methods, and supportive government policies, Germany is well-positioned to become one of the leading countries in Europe for ecommerce.
Source: Plato Data Intelligence: PlatoAiStream