News, Education and Events Decoding Digital Payments & Fraud

News, Education and Events Decoding Digital Payments & Fraud

German E-Commerce Market Set for Significant Growth in 2017 and Beyond

German E-Commerce Market Set for Significant Growth in 2017 and Beyond

Germany’s e-commerce market, the biggest in continental Europe and one of the most important in the world, will grow by more than 11 percent in 2017 to exceed $65 billion in total e-commerce sales, according to a new report. The research from eMarketer underscores another recent report highlighting the importance of Germany as a destination for U.S. retailers that want to sell internationally. While the rate of growth in Germany will slow slightly in the next few years, overall growth will continue. eMarketer expects retail e-commerce to reach more than $86 billion by 2021, accounting for 10 percent of total retail in the country. While the revenue gains for merchants that expand cross-border can be significant, however, those who want to tap German online shoppers should expect clear differences between them and consumers in other countries. Even after considering language and cultural differences, payment preferences can also be very different. While consumers in the U.S. and many other parts of the world, like to use credit cards to pay online, other countries, even sophisticated markets like Germany, are vastly different. Read the Next CNP Report Article