Report: E-commerce to Bail out German Retail Sales
March 27, 2014
Online sales in Germany are forecast to buoy sluggish brick-and-mortar revenue, according to a new report. GfK, a Nuremburg, Germany-based consultancy, predicted brick-and-mortar retail sales in Germany to reach €408 billion ($562 billion) in 2014, a nominal 1.2 percent decrease from a year earlier. Online sales will pick up the slack, surging 25 percent this year to €47.5 billion ($65.5 billion).
“The forecasted retail turnover reflects changing consumer behavior,” GfK market data expert Simone Baecker-Neuchl said. “More than ever before, this year’s increases in online turnover will be at the expense of stationary turnover. The evolution of retail is in full gear and retailers must develop sound, forward-looking concepts for their online and offline sales channels.”