German e-commerce to grow by 12% annually

B2C e-commerce is set to grow between 12-15% annually for the next four years in Germany according to research by the German e-commerce association ECO. By 2019 the turnover of the industry could exceed €114 billion annually, or 60% greater than it is today.

In the last 24 months the industry has grown by 11% annually, as more people seek deals online instead of going to physical shops to make their purchases. Commenting on the huge growth of the industry, Managing Director of ECO Harald Summa said, “If it continues like this, the internet is about to surpass our own German industries, such as chemicals and mechanical engineering.”

This isn’t just going to make a few people rich, but should impact the economy as a whole, with employment in e-commerce set to rise from 243,000 to 332,000 in 2019, or an eight per cent increase in employment for this sector alone.

B2B e-commerce is a growth sector too, though it is playing catch up with the retail side. In 2015 it has been measured at €33.1 billion annually but is set to nearly double in size to €57.9 billion annually in 2019. B2B e-commerce is an area that has yet to be explored in industry as a whole, with the prime focus on the great results from B2C. As such as markets begin to mature this could be a sector ripe for faster growth.

Germany has long been a powerhouse economy in the EU but other countries are having bumper years in e-commerce. The UK has seen significant investment in the infrastructure required to drive the sector forward and may yet see growth figures that would match that of Germany. For those involved, as long as they can meet customer demand in terms of quality, price and service, these are good times indeed.