The e-commerce market is one of the most profitable sectors in Germany. It belongs to the group of the most developing markets all over the world. From the business point of view, it has enormous potential. Check out 10 most interesting facts about the German e-commerce market that you probably did not know about before.
10 most interesting facts about German e-commerce market:
1. Germany is the fifth largest country in the world and the second in Europe with the highest revenue from the e-commerce market (USD 76.478 million). China hold the first position (USD 77.422 million), the second – the US (USD 560.747 million), and the third belongs to the United Kingdom (USD 93.082 million).
2. It is estimated that the revenue on the e-commerce market in Germany in 2019 will be 76 478 million USD.
3. Revenues from the e-commerce market in 2017-2023 will increase by approximately 33%.
4. The projected annual growth rate of revenues from the e-commerce market (CAGR 2019-2023) will amount to 5.6%. This will lead to an increase in the market value by USD 95 277 million in 2023.
5. The average revenue per user (ARPU) in 2019 will be 1 189.34 USD.
– I have been following the development of the e-commerce market in Germany for many years, technologically supporting our partners. I must say that I am very impressed by the potential of this sector. It is extremely impressive to observe how fast it is growing. I believe that this positive trend will continue to grow – said Greg Polec, Business Consultant and COO at Codest.
6. It is estimated that by 2023 the number of users on the e-commerce market in Germany will amount to 66 million.
7. 26% of e-commerce market users in Germany are people aged 45-54, 19.9% are aged 35-44%, and 21.5% are people between the ages of 25-34.
8. The largest segment of the German e-commerce market is electronics and media. Their total value in 2019 will amount to approximately 23 3380 million USD.
9. 30% of all purchases on the e-commerce market in Germany will be made via bank transfer.
10. The amount of users in 2019 will reach up to 77.8%. It is estimated that in 2023 this number will increase to nearly 80%.