German Retail Turnover in 2021 Expected to Set Record

January 2022

The Federal Statistical Office says that according to initial estimates, German retailers notched up a new record revenue level in 2021.

The office projected price-adjusted retail turnover would rise by 0.6 to 1.2 percent over the already record levels of 2020. The non-price-adjusted rises was estimated at 2.8 to 3.4 percent.

Driving the growth, unsurprisingly, was online retail, which continues to boom because of coronavirus restrictions. Although online retail declined by 3.1 percent in November 2021 compared to the previous month, due to supply chain disruptions and effect of inflation on consumer spending, Internet purchases have risen by a whopping 30.3 percent over the final pre-pandemic month in Germany, February 2020. That has cancelled out severe drops in the brick-and-mortar retail sector.

A survey of 750 companies by trade association HDE estimates the value of German online commerce, excluding cars, gas stations, drug stores and fuel, will reach EUR 586 billion. That would be a turnover increase of 1.5 percent.

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