More than half of Germany’s online purchases are made with customers’ smartphones, and more than 50% are generated on marketplaces. According to E-commerce News, as a result, more than $50 billion in online sales have been made.
Handelsverband Deutschland (HDE) released a report that carefully collected the latest data from online stores.
Online marketplaces are becoming the lifeblood of online trading. “Current figures from the HDE Online Monitor show that, for the first time, more than half of online sales in Germany could be generated via these platforms in 2023. At the same time, international providers are also becoming increasingly stronger,” reads the report.
Everyone now has smartphones; even in impoverished countries, more than half of the population can access these devices. According to a Worldwide E-Commerce Forecast for 2023, social commerce is expected to grow by 38% to about $8 trillion in 2027.
“Smartphones now dominate access to online shopping. In 2023, a record 55% of online sales were achieved via these devices,” states HDE.
Importance of marketplaces
Online marketplaces’ relevance is growing “significantly,” according to industry experts. The HDE Online Monitor 2024 report shows that sales with online marketplaces reached a record high last year.
However, HDE deputy managing director Stephan Tromp has warned against international providers who don’t adhere to rules. “With regard to Temu, everyone is talking about the fact that a significant proportion of the goods ordered there meet our EU guidelines for pricing, website design, product safety, environmental protection or taxes.” However, he says, it “does not comply with customs law.”
Tromp warns that this is not a permanent state of doing fair business, and something urgently needs to be done. “Anyone who offers goods in this country must adhere to all the rules. The authorities have to enforce this.”
He raises concerns about unfair trading practices, which punish companies within the EU that “behave correctly” by disadvantaging them.
Social commerce
Social platforms have transformed into something more than just ‘the family’s favorite funny cat videos.’ It has now turned beyond connection and communication. E-commerce tools have evolved in a safe and reliable way for customers to buy directly from social media sites.
Deloitte Insights has projected social commerce to surpass $1 trillion in 2023 and increase to $1.6 trillion this year. This is according to Oberlo, who predicts the market will explode to more than $ 2 trillion by next year.
NOW READ: Social commerce: Navigating a $1.6 trillion trend
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About the author
Mia is a multi-award-winning journalist. She has more than 14 years of experience in mainstream media. She's covered many historic moments that happened in Africa and internationally. She has a strong focus on human interest stories, to bring her readers and viewers closer to the topics at hand.
