Germany’s HDE projects 2025 online retail revenue up 4%

Since 2022, online market shares for the two segments have risen by more than 8% and 9% respectively.

HDE deputy managing director Stephan Tromp stated: “After several weaker years, online retail is once again the clear growth engine for retail in Germany. Despite the overall unsatisfactory consumer sentiment, online retailers are managing to achieve significantly better sales than in the previous year.”

Data from the HDE Online Monitor show that online marketplaces now comprise 57% of Germany’s total online sales.

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A significant portion of consumers inadvertently purchase items from international vendors.

It is projected that foreign online retailers will generate €8.9bn in sales in 2024, accounting for 10% of the nation’s online sales volume.

Temu and Shein alone are estimated to contribute between €2.7bn and €3.3bn to these figures.

Tromp continued: “The high figures and the strong momentum make it clear that it is high time for politicians to ensure fair competitive conditions with suppliers from the Far East. Competition stimulates business, but this Wild West situation must end: anyone offering goods in this country must adhere to all our rules. The current situation endangers domestic retailers and consumer safety.”

Meanwhile, the e-commerce industry is awaiting decisive and unequivocal action from both Germany’s new government and the EU Commission.

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Original Source FINANCE YAHOO

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Original Source FINANCE YAHOO