Germany State of Retail: Online Retailing Market Report 2024
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Increased use of new technologies will help grow the eCommerce market size Germany. While AI will be key in the online retail market sector, consumers are worried about the security of their data online, and think that retailers need to take responsibility.
The increasing cost of living has affected sales in eCommerce in Germany. Changes in consumer behaviour are not anticipated anytime soon, even if the steep decline slows down. The online channel’s value credentials will continue to attract consumers, but retailers need to find ways to provide additional value to maintain shoppers’ loyalty.
Online retailers must build on online shopping strengths in discovery and comparability, using advanced tech for a smooth online experience. AI is key in achieving this, as it is impacting the customer journey from the initial inspiration phase to personalised purchase recommendations.
The increased use of new technologies also faces significant consumer scepticism, as many online shoppers are wary of sharing personal information. In general, internet dangers place increasing responsibility on online retailers to guarantee security. Hence, helpful online tools must first convince users of their trustworthiness and quality.
This Report is designed to give an overview of the German online retail market, including forecasts for future developments, in-depth consumer analysis using our own data. A section looking at the key players in this sector and company profiles are also included in this report.
This report was written by Lena Rittmann, Analyst at Mintel. Lena writes reports and provides consumer insights about various industries. During her studies and her internships, she gained practical experience in social media monitoring and journalism and completed a one-year trainee in media consulting and planning. She holds a M.Sc. in International Management from Bochum University of Applied Science.
As overseas marketplaces challenge the status quo, opportunities exist in the online retail market for differentiation through authenticity, innovative AI solutions, and more customer engagement by tapping into resale.
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