The German market is one of the largest e-commerce market not only in Europe but also world-wide.
Emarketer ranks the German market as Europe’s 2nd largest with an annual spending of €69,35 million in 2019 and an annual growth rate of 7-8% – annual e-commerce spending is expected to surpass 10% of total retail sales in 2022.
Mobile shopping in Germany in particular is driving this growth with an annual growth rate of 12% – this also leads the way for new payment methods into the German E-commerce market, which traditionally has been dominated by open invoice payment due to its history of mail order / long distance sales.
With new payment options on the rise, Germany E-commerce shops are starting to offer a broader variety of options for online shoppers.
Ecommerce Germany’s guide offers valuable insights into the most common methods of payment offered by German Webshops – a valuable resource for brands and companies looking to expand their business to Europe’s 2nd largest E-commerce Market.