Consumer Attitudes & Online Retail Dynamics in Germany
05 Sep 2011 • by Natalie Aster
In contrast to the retail market, the online retail channel has grown significantly. This can be attributed to the change in consumer perceptions towards the online retail channel, which is considered a cheaper and convenient shopping alternative to traditional retail outlets. While audio and video content, games and software were the most popular purchases, an increasing number of German consumers are now opting to purchase products such as apparel, furniture and furnishings, and do-it-yourself items online. Although Germany has a lower online shopping penetration rate than other mature economies such as the US, the UK and France, its large population and high levels of disposable income make it one of the largest online markets in Europe.
The report “Consumer Attitudes & Online Retail Dynamics in Germany” is the result of ICD’s extensive market and company research covering the Japanese construction industry. It provides detailed analysis of both historic and forecast construction industry values at market and category level, analysis of the leading companies in the industry, and key news.
In the Eurozone, Germany was among the first countries to recover following of the global economic recession and the country is growing at its fastest rate since its unification. Industry data released by the German government forecasts the economy to grow at a faster pace than previously expected. This can be attributed to the strong construction sector and buoyant demand for German products worldwide, particularly from Asia. These factors will have a greater impact on domestic retail activity, with a significant increase in business investments, consumption expenditure, employment levels and wages. Furthermore, with oil prices forecasted to increase moderately, inflation is likely to remain stable at 2% for the rest of 2011, maintaining low retail prices. While the retail market is forecasted to grow modestly by 1.31% between 2010 and 2011, increased consumer confidence and better labor conditions are anticipated to sustain the recovery during the forecast period.
During the peak of the global economic recession, total retail sales declined by 3.03% between 2008 and 2009. Following this, as the country emerges from the recession; retail spending is forecasted to grow at a moderate 1.15% and 1.31% in 2010 and 2011 respectively. During the same period, online retail increased at a comparatively faster pace. Indeed, in 2009, online retail grew by 6.71% compared with the previous year, and resumed double digit growth from 2010 onwards. This reflects consumers looking for cheaper alternatives during the recession.
Figure 6: Online Retail Sales vs. Total Retail Sales Growth, 2006-2010
Report Details:
Consumer Attitudes & Online Retail Dynamics in Germany
Published: August, 2011
Pages: 79
Price: US$ 1,950.00
The report provides core insights into consumer behavior and highlights the latest online trends and their impact on online product sales. Core data sets give both historical contexts and a view into the future, allowing marketers to update their strategic planning and fill gaps in their knowledge about this rapidly evolving channel. By examining best practice from leading national large-scale online retailers, as well as reviewing innovative approaches from smaller players, the report also provides insights and ideas about how best to approach growing online sales for your business.
Key Features:
- Three core elements of the report; market dynamics, consumer understanding and best practice examples; will allow readers to easily understand the nature and development of online retail in Germany and provide insight into how best to exploit the opportunities in the market;
- Understand the consumer behavior and online trends in Germany; along with which products (of 25 different categories) will be the major winners and losers in the coming years;
- Improve market and strategic planning using highly granular, forward-looking market data;
- Learn from best practice approaches outlined in the case studies of leading online retailers.
More information can be found in the report “Consumer Attitudes & Online Retail Dynamics in Germany” by iCD Research.
To order the report or ask for sample pages contact [email protected]
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