HDE lowers forecast for e-commerce sales in 2023 to 89.4 billion euros

At the beginning, the HDE still assumed an increase of eight percent in sales in e-commerce for 2023. Since inflation is still high, the German trade association is now lowering its forecast to 89.4 billion euros.

In view of the persistently high inflation and the correspondingly poor consumer sentiment, the German Retail Association (HDE) lowers its forecast for sales in online retail for 2023 to 89.4 billion euros. Compared to the previous year, this is still a nominal increase of 5.8 percent. At the beginning of the year, however, the HDE assumed an increase of eight percent.

Adjusted for prices, online sales will increase by around 2 percent this year.

trade traces

“The high inflation continues to leave clear traces in the retail trade. This also applies to online trade, which is feeling the effects of consumers’ reluctance to buy,” says Stephan Tromp, Deputy Managing Director of the HDE.

After the exceptional years during the Corona pandemic, in which online trading was particularly good, the current crisis with the consequences of the Russian war in Ukraine is affecting all retail sales channels equally.

After online sales grew by more than 25 billion euros in total during the pandemic years, online trade experienced a slight loss in sales for the first time in 2022 with a nominal minus of 2.5 percent or 2.2 billion euros. Compared to the online sales of 2019 – before the Corona boom – the increase is still 43 percent.

Look at the industries

With regard to the sectors, it is evident that those who were able to grow online during the Corona period were significantly less successful last year. Most product groups related to living (-8 percent) as well as DIY and gardening (-15 percent) lost at least part of the growth again.

On the other hand, online food retailing experienced a success story in 2022. Here, retailers were able to record above-average growth of eight percent. Overall, however, the online share of sales of food and drugstore items remains at a low level and reaches 4.3 percent. In the fashion & accessories and CE/electronics sectors, the online share of the respective overall market maintained its high level and is still over 40 percent.

Source: com! professional by www.com-magazin.de.

*The article has been translated based on the content of com! professional by www.com-magazin.de. If there is any problem regarding the content, copyright, please leave a report below the article. We will try to process as quickly as possible to protect the rights of the author. Thank you very much!

*We just want readers to access information more quickly and easily with other multilingual content, instead of information only available in a certain language.

*We always respect the copyright of the content of the author and always include the original link of the source article.If the author disagrees, just leave the report below the article, the article will be edited or deleted at the request of the author. Thanks very much! Best regards!