Hamburg, Germany – yStats.com, a leading provider of E-Commerce market intelligence solutions, unveils its newest market report titled “Germany B2C E-Commerce Market Insights & Online Payment Trends 2024“. This in-depth report highlights key trends and insights regarding the fast-growing adoption of B2C E-Commerce and online payment methods in Germany.
Germany’s Retail Landscape Growth
The retail sector in Germany is on an upward trajectory, with total retail sales projected to reach over EUR 600 billion in 2024. Online sales will play a significant role, comprising more than 13% of the total, with an estimated value of double-digit billion EUR in 2024. Furthermore, by 2027, retail E-Commerce sales are expected to soar to over EUR 100 billion.
Social Commerce: A Key Driver in Consumer Engagement
Social commerce is becoming an essential component of the retail experience in Germany, leveraging platforms such as Instagram and TikTok to enhance visibility and facilitate seamless shopping experiences. Around 90% of German consumers view social commerce positively, with more than half of consumers making purchases through these channels. However, many companies have yet to fully capitalize on social commerce, presenting a significant opportunity for those looking to improve customer retention, loyalty, and market presence.
Payment Trends and Challenges in E-Commerce
In 2023, PayPal and payment by invoice emerged as Germany’s leading B2C E-Commerce payment methods. The use of real-time transactions is projected to grow at a CAGR of over 24%, reaching more than 3 billion transactions by 2026. The share of real-time payments in transaction volume is expected to rise to nearly double-digit in 2026. Despite these advancements, over half of online merchants reported an increase in B2C E-Commerce fraud in 2023, highlighting the need for enhanced security measures, as mentioned in the yStats.com report.
Germany’s 2024 E-Commerce: Fashion Leads, FMCG Grows, and Player Overview
In Germany, fashion and accessories dominated the B2C E-Commerce market in 2023, accounting for over 20% of sales. The FMCG sector led annual online sales growth with a notable increase in 2024. Furthermore, in April 2024, Amazon.de was the top B2C E-Commerce and shopping website, capturing more than 20% of the total traffic share. Meanwhile, Chinese platform Temu emerged as a strong competitor, leveraging aggressive marketing and low pricing to attract a large consumer base.
