German e-commerce to surpass €140 billion by 2024: forecast

German e-commerce keeps growing amid the coronacrisis

German e-commerce

German e-commerce to surpass €140 billion by 2024: forecast. Source: pexels.com

E-commerce in Germany is forecasted to increase significantly in the next years, Ecommerce News report.

During the last few months, more and more purchases have been made online. The online volume in German retail will be between €80 and €88 billion in 2020, which means that growth has at least doubled compared to the previous year.

In its forecasts for the next four years, IFH Cologne is showing a confident online increase that will continue. With trend calculation, e-commerce sales in Germany will reach €120 billion by 2024. Moreover, with rising growth, due to the steady rise from the corona pandemic, it would reach even €141 billion.

In line with calculations, the share of online trading in 2024 will be 16.5%, and under a certain scenario, it may even grow to 19.4%.

We’ve reported that the European Commission confirms the presence of territorial supply restrictions in the European e-commerce sector.

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Tags: Germany