E-commerce turnover in Europe is expected to reach over 565 billion euros by 2029 or in Germany by 50 percent to 146 billion euros compared to 97 billion in 2024. The research and consulting company Forrester published this forecast in his latest report “Europe-5 Online Retail Forecast, 2024 to 2029”.
This offers a comprehensive five-year forecast for retail and online individual sales in the five most important European economies: Germany, France, Great Britain, Italy and Spain.
The total individual trading sales in Germany are expected to achieve an average annual growth rate (CAGR) of 2.9 percent by 2029 693 billion.
Up to the period, online sales should make up almost 21 percent more than a fifth of all retail sales in the five mentioned European countries; In 2024 the proportion was 16 percent. Accordingly, online individual trading solutions should develop, from 16 percent in the last year to 21 percent by 2029, and Germany “make the most digital advanced markets in Europe”, said Forrester.
Fashion should put on again
For this growth, the company blames factors such as a greater economy, increasing use of omnichern -enabled strategies, better price transparency and the expansion of cross -border marketplaces. It predicts that sales in non-lifelong retail will recover in falling inflation and improved economic conditions. For categories such as fashion and consumer electronics, this means that you are expected to “record again online growth, as price -conscious consumers: gain purchasing power in the inside,” said the report.
For the current year, Forrester predicts that two thirds of German online growth can be achieved through higher expenses per consumer: in, while a third of new online buyers: inside will come.
“The retail industry in Germany is expected to grow significantly and reach 693 billion euros by 2029, compared to 600 billion euros in 2024. This growth is being made through improved economic conditions, including declining inflation, increasing real-available income and improved retail strategies, online And unite offline experiences, promoted, ”comments Jitender Miglani, main forecast analyst at Forrester.
“Germany also stands out as one of the largest online retail markets in Europe, with a forecast for online sales from 97 billion in 2024 to 146 billion euros by 2029. Innovations in e-commerce, such as marketplace extensions and personalized shopping experiences, promote them Development continues and ensure that Germany remains a leading retail market in Europe, ”Miglani continues.
Although Germany will cite retail sales in the examined region of Europe, however, the offline trade, for example in shops, is slowing down in parallel to the growth of the online trade.
Investment in digital platforms necessary
Miglani therefore advises retail companies to invest in “advanced digital platforms to pursue omnichannel strategies and to cover the growing online demand.”
“The growth of online trading changes the retail landscape and offers companies the opportunity to expand their customers: inner trunk by offering more comfort and creating tailor -made shopping experiences,” adds Miglani. “The right customer: Interior experience both in the online and offline area, market dominance will determine in the next decade,” concludes the expert.
- The German online individual sales turnover is expected to increase by 50 percent to 146 billion euros by 2029.
- This growth is promoted by factors such as improved economic conditions, omnichannel strategies and the expansion of cross-border marketplaces.
- Companies should invest in digital platforms to operate the growing online demand and to remain competitive.