( MENAFN - GlobeNewsWire - Nasdaq) Dublin, May 31, 2024 (GLOBE NEWSWIRE) -- The "Germany B2C e-commerce market Insights & online Payment Trends 2024" report has been added to ResearchAndMarkets's offering. Germany's retail sector is anticipated to exceed EUR 600 billion in 2024, with online sales contributing over 13%, reaching double-digit billions. Retail e-commerce sales are projected to surpass EUR 100 billion by 2027.
Social Commerce: A Key Driver in Consumer Engagement Social commerce plays a vital role in Germany, leveraging platforms like Instagram and TikTok to enhance shopping. About 90% of German consumers view it positively, with over half making purchases this way. However, many companies haven't fully utilized social commerce, presenting a significant opportunity to boost customer engagement and market presence.
Payment Trends and Challenges in E-Commerce In 2023, PayPal and payment by invoice were the leading B2C E-Commerce payment methods in Germany. Real-time transactions are expected to grow at a CAGR of over 24%, reaching over 3 billion transactions by 2026, with their share in transaction volume nearly doubling. Despite these advances, more than half of online merchants reported increased B2C E-Commerce fraud in 2023, highlighting the need for better security.
Germany's 2024 E-Commerce: Fashion Leads, FMCG Grows, and Player Overview In 2023, fashion dominated Germany's B2C E-Commerce market, accounting for over 20% of sales. The FMCG sector is expected to .