This week, a study released by Deutsche Card Services gave an interesting insight into online shopping and payment trends. Compiled with data from 24 million transactions, it is predominantly about the German market, but also including notable comparisons with the UK and the rest of Europe. Though this report is available for purchase on the Deutche Card Services shop, I though it worth summarising the key points raised in this post.
Seasonal Fluctuations
In comparison to stationary businesses, who often find a lull in summer sales, e-commerce found that seasonal fluctuations across the year were small - fluctuations that are levelling more in comparison to previous years. Germany and UK were found to have the most even spread of sales across the year, bearing in mind one exception of December, where sales increase with strong Christmas demand.
Shopping Day of the Week
For shopping across European sites, the best day for sales has moved from Tuesday to Monday. The one differentiator for Germany is that an above average level of sales are occurring on Sundays, a non-working day, which is dissimilar to the rest of Europe. German women have overtaken men in online shopping volume, but have a lower spend than their male counterparts. The European share of women shopping in e-commerce is 40%, whose main shopping hours are during core working hours (8am-6pm) but, unlike Germany, women are spending more online than men.
Transaction Values
As one might expect under current financial pressures, average transaction spends have fallen. The record high of €84.31 has fallen in Germany, the UK and the rest of Europe to €65.35, but it is worth noting that, though the number of €100-500 and €500+ purchases have fallen, the €0.01 - 10 purchase band has increased in volume, possibly suggesting that the downloads market is strengthening.
Local Payment Methods
The local payment methods in Germany are Sofort, ELV and Giropay. Giropay is now the fastest growing payment method in Germany, making room amongst the once dominant bank transfer option. Credit cards are also gaining more momentum as a preferred payment option in a market where they have, until recently, had a very low exposure.
Conclusion
As much as there are growing similarities between the UK and German e-commerce market places, there are still many disparities that are worth noting if you are an EU-based retailer selling to Germany. Taking note of popular purchasing days, the changes in average spending trends and gender differences could prompt business strategy changes and the way you sell. And if you are selling to Germany, and do not support Giropay, Sofort and ELV, by accepting these methods you could substantially increase sales in this strong market.
For more information, please feel free to contact me at daniel.robertson@moneybookers.com
Dan Robertson
Alternate Payment Methods - Part II will be published soon
The report summarised above can be found at: deutsche-card-services.com
Seasonal Fluctuations
In comparison to stationary businesses, who often find a lull in summer sales, e-commerce found that seasonal fluctuations across the year were small - fluctuations that are levelling more in comparison to previous years. Germany and UK were found to have the most even spread of sales across the year, bearing in mind one exception of December, where sales increase with strong Christmas demand.
Shopping Day of the Week
For shopping across European sites, the best day for sales has moved from Tuesday to Monday. The one differentiator for Germany is that an above average level of sales are occurring on Sundays, a non-working day, which is dissimilar to the rest of Europe. German women have overtaken men in online shopping volume, but have a lower spend than their male counterparts. The European share of women shopping in e-commerce is 40%, whose main shopping hours are during core working hours (8am-6pm) but, unlike Germany, women are spending more online than men.
Transaction Values
As one might expect under current financial pressures, average transaction spends have fallen. The record high of €84.31 has fallen in Germany, the UK and the rest of Europe to €65.35, but it is worth noting that, though the number of €100-500 and €500+ purchases have fallen, the €0.01 - 10 purchase band has increased in volume, possibly suggesting that the downloads market is strengthening.
Local Payment Methods
The local payment methods in Germany are Sofort, ELV and Giropay. Giropay is now the fastest growing payment method in Germany, making room amongst the once dominant bank transfer option. Credit cards are also gaining more momentum as a preferred payment option in a market where they have, until recently, had a very low exposure.
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| More dominant than International payment methods like Visa & MasterCard, German consumers are far more likely to use their local options to shop |
Conclusion
As much as there are growing similarities between the UK and German e-commerce market places, there are still many disparities that are worth noting if you are an EU-based retailer selling to Germany. Taking note of popular purchasing days, the changes in average spending trends and gender differences could prompt business strategy changes and the way you sell. And if you are selling to Germany, and do not support Giropay, Sofort and ELV, by accepting these methods you could substantially increase sales in this strong market.
For more information, please feel free to contact me at daniel.robertson@moneybookers.com
Dan Robertson
Alternate Payment Methods - Part II will be published soon
The report summarised above can be found at: deutsche-card-services.com
