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Germany is the 19th most populated land in the world and possesses a strong economy. The country has a population of 83 million people, with a 0.14% increase from the previous year. The average payout of a working adult in Germany comes to be around €3,810 monthly. It includes all the benefits like housing, transport, and others. People in Germany make between €960 to €17,000, €960 being the lowest average and the latter being the highest average monthly salary.
94% of the total population, i.e., 77.8 million people, use the internet to connect to people, and make online purchases. An addition of 307,000 has been observed to the number of internet users. Study shows that 30% of the residents buy something online at least once a month, whereas the same number of people perform an online payment every two weeks.
|Population||Internet users||Social media users||Online shoppers||Popular modes of payment|
|83 Million||77.8 Million||38 Million||68 Million||Credit card, debit card, Ewallet|
E-commerce in Germany
Germany is the biggest economy in Europe and stands 5th in global GDP according to its purchase power parity. The economy is becoming stronger as it generates huge sales not only offline but also online. Sixty-seven million people in the country make online purchases, with 53% having a credit card or paying through it.
The e-commerce industry is growing swiftly in Germany, and around 82% of consumers are purchasing goods online. Out of these, 43% make purchases through mobiles making m-commerce an essential part of the overall online sales dynamic in the region. The total value of the B2C market stands at $108.2 billion and is expected to experience a growth of 11%.
The expansion of the market has made dropshipping to Germany a preferred choice for many businesses.
Mode of Payment
EWallets are a popular mode of payment in Germany other than credit and debit cards. It is estimated that 25% of the population prefers making purchases through EWallets. 62% of people choose bank transfers when given a choice, and 11% go for payment through credit cards. Cash usage is restricted to 4% only, making online shopping more convenient.
Popular Online Products
The German population spent around €100 billion on online shopping in the past months, out of which €16 billion were paid out for electronics and social media. A massive €34.7 billion were expended on traveling along with accommodation.
Future of E-commerce in Germany
The German e-commerce business has grown in the past year and has reached 88 billion euros, surprisingly. However, the growing market shows that e-commerce sales may reach up to €120 billion by 2024. This figure can possibly grow by 19.4%, making it €141 billion.