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The Future of Retailing in Germany to 2017

Germany retailing market: EUR 483 billion industry by 2017


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2014-01-29 18:26:03 - The Future of Retailing in Germany to 2017 - a new market research report on companiesandmarkets.com

The retail market in Germany grew at a CAGR of 1.85% from 2007-12 and is expected to grow at a CAGR of 2.23% from 2012-17. The value of the Germany retail industry is forecast to be EUR 482.7 billion by the end of 2017. In Germany, the retail and labor laws have been very strictly imposed and implemented, which companies have to adhere to and which may even determine their success in the country.

Online shopping clubs have become immensely popular amongst online retailers in Germany, which has resulted in its rapid growth as an online shopping channel. These clubs are extremely useful for consumers as they offer designer accessories and high fashion brands to their registered members, at extremely low

 

 

prices, for limited periods. These clubs also allow members to keep up to date with the latest trends which then lead to spontaneous purchases.

What differentiates such club members from the general German online shopper, is that they closely follow advertisements and exhibit a keen desire to impress their peers through the purchase of specific brands. Realizing this trend, retailers aim to maximize their reach through advertisements that display high quality photos and video content of their product offerings, which can appeal to, and impress the quality-conscious club members.

Considering the favorable online environment, retailers have started to test new markets and harmonize their existing store footprints via the launch of their online counterparts. Retailers are now looking at this as a low-risk option, which they can use to venture into growing markets, build brands, and learn about consumers.

The impact of online shopping clubs has boosted revenues for companies operating in the German retail sector, in part contributing to healthy market growth: the German retail market grew from EUR394.4 billion in 2007 to EUR432.2 billion in 2012 at a CAGR of 1.85%. We expect retail sales in the country to reach EUR482.7 billion in 2017 growing - a CAGR of 2.23% over the next four years. This reveals that online shopping clubs can have a major effect on the growth of retailing, as demonstrated by these CAGR figures.

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Author:
Mike King
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