Online fashion and food sales stabilize

10-Apr-2024

German online retailers have started the new year with cautious optimism. At the end of the first quarter, total goods sales were still down by a moderate 2.6% to €18.9 billion (Q1/2023: €19.4 billion, including VAT, not price-adjusted). However, the important fashion trade and the trade in electronics and entertainment goods in particular were able to significantly limit their losses and some sectors were even able to make slight gains again. Digital services (14.59% to €2,725 billion), which include travel bookings, event tickets, dating sites and (in-)app purchases, were once again able to make up significant ground.

"Although the lean period in retail is continuing, consumers' willingness to save is slowly being exhausted. Even if it is still too early to talk about a return to growth, we are in an important transition year for online retail from the consumer crisis," explains Martin-Groß-Albenhausen, Deputy Managing Director of bevh.

First early bloomers

After significant double-digit declines in the previous year, fashion retail (clothing cluster) is sending a positive signal. Sales of shoes increased by 1.1 percent, partially offsetting the 1.2 percent decline in the clothing segment. Online grocery retail also proved to be much more stable (+ 1.6%), although it is the only one of the daily consumer goods segments to stand out (see drugstores: - 7.3%, pet supplies: - 2.5%). Online sales of jewelry and watches in particular (-9.0%), as well as household and home textiles (-8.1%) and books, e-books and audio books (-6.7%) continued to decline.

Note: This article has been translated using a computer system without human intervention. LUMITOS offers these automatic translations to present a wider range of current news. Since this article has been translated with automatic translation, it is possible that it contains errors in vocabulary, syntax or grammar. The original article in German can be found here.

https://www.yumda.com/en/news/1183167/online-fashion-and-food-sales-stabilize.html