Germany is one of the biggest ecommerce markets in Europe, behind the United Kingdom and France. It is one of the most populous countries in Europe behind Russia and 5th largest ecommerce market in the world. According to Renub Research with a growing number of online shoppers, Germany ecommerce Payment Market is expected to grow more than US$ 103 Billion by the end of the year 2026.
German consumers are moving to digital payment, using a digital wallet, bank transfer and shopping through credit cards. More than 70 per cent of consumers have shopped through online stores than the physical store in the last six months. The ecommerce payment markets for hygiene products, groceries and pharmaceuticals have grown during this period.
The tech-savvy citizens of the country are moving from cash payment to digital wallet payment methods. Most of the German prefer payment through Digital Wallets, Open Invoice and Cards when shopping online. Increasing trust among German user with advance security measures and assurance by digital wallet, card issues and merchants is also encouraging users to move to digital payment rather than using cash for payment. Initiates of PayDirekt, Giropay, AmazonPay and Paypal such as buy now pay later, 0% finance are the other growth factors for Germany eCommerce Payment Market.
Impact of COVID-19 on Germany eCommerce Payment Market
Germany is one of the cash-economy in Europe, but the coronavirus has completely changed the shopping behaviour of German users, it acted as a catalyst for the digital payment industry, most of the citizen is using digital payment besides cash. In this report, we have covered the impact of coronavirus on every sector in Germany.
Renub Research report titled Germany Ecommerce Payment Market and Forecast by Category (Food/groceries, Clothes & Sports Goods, Household Goods, Books/magazines/newspapers, Films and Music, Medicines, Computer Hardware, Tickets for Events, Computer Software, Travel and Holiday Accommodation, Electronic Equipments and Others), Payment Method (Bank Transfer, Card, Digital Wallets, Cash, Direct Debit, Open Voice, and Others and Company Analysis (Paypal Holdings, AmazonPay Inc, PayDirekt and Giropay)-- studies Germany eCommerce Payment Market. This research report provides a complete analysis of the market with market dynamics and their projections for the upcoming years.
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On Category basis -- This research report has covered the market of 12 categories
2. Clothes and Sports Goods
3. Household Goods
5. Films and Music
7. Computer Hardware
8. Tickets for Events
9. Computer Software
10. Travel and Holiday Accommodation
11. Electronic Equipments
On Payment basis -- In this research report we have covered 7 types of payment market
1. Bank Transfer
4. Digital Wallets
5. Direct Debit
6. Open Invoice
All the Companies have been covered from 3 Viewpoints
-- Recent Initiatives
-- Sales Analysis
Companies Covered in Germany Ecommerce Payment Market Research Report
1. Paypal Holdings
2. AmazonPay Inc
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