Consumer Attitudes and Online Retail Dynamics in Germany, 2013 - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-17 14:51:02
Online was the fastest growing retail channel in Germany over the past five years. Revenues rose from EUR9.4 billion in 2007 to EUR21.3 billion in 2012, growing at a CAGR of 17.88%. This rapid pace of growth is set to slow over the next five years, but the German retail market is still set to exhibit a very healthy CAGR of 12.57%, and will make up 8% of the country´s total retail market by 2017.
Smartphones and tablets are the major growth accelerators for online retailing in Germany, with a 158% rise in m-consumers between 2011 and 2013; eMarketer estimates that the number of tablets in Germany will rise from 9.7 million in 2012 to 28.3 million by 2016, added further fuel to this fire of channel growth.
The practical benefits of being able to shop on the move is the key factor driving the growth of mobile shopping in Germany, and increasing numbers of retailers are offering apps and mobile-optimized websites to further facilitate interactive shopping and spur further growth.
The pace of online grocery sales has been rising in Germany over the past 5 years, at a CAGR of 15.32% between 2007 and 2012 - outpacing the growth of traditional grocery channels. Despite growing sales, online grocery shopping in Germany is still in a nascent stage as a result of low margins, an inadequate supply chain, and scepticism among consumers about buying groceries online.
To fight this scepticism, German online retailers are trying to boost confidence by engaging with consumers through innovative shopping services, such as online shopping assistance, fresh food packaging, and dynamic transportation facilities with same day delivery option.
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