Ecommerce in Germany continues to grow rapidly and there are no signs of stagnation. IFH Cologne predicts the online retail industry to be worth 73.3 billion euros by 2020. Ecommerce will then account for nearly 15 percent of total retail.
Thatâ€™s what IFHâ€™s project manager Sabine Buschmann told online marketing magazine Haufe. The German institute for trade research on the German ecommerce industry and last year, online retailers in Germany sold products with a total value of 46.3 billion euros. This corresponds with almost 10 percent of the entire retail sector in Germany. In four yearsâ€™ time, ecommerce in Germany is expected to be worth 73.3 billion euros and account for almost 15 percent of total retail.
Buschmann explains itâ€™s especially the consumer electronics sector and fashion where online penetration is high. But other industries are catching up. For example, a few years ago one would have thought itâ€™s difficult to sell sofas and furniture online. But retailers have now proved the contrary. Online now has a 10 percent share of the home and furnishing segment.
She says that only the food sector is still lagging behind. But even there, there is much momentum. Sheâ€™s sure customer orientation is the key to success in ecommerce. Absolutely, service plays an extremely important role, because itâ€™s the strongest driver of customer loyalty.