The large marketplaces dominate, the fashion sector leads ahead of technology and home & living, the ‘app first’ trend is growing strongly and social commerce is ‘rocking’ among young people: These are some of the conclusions drawn from a recent representative PAYBACK Panel survey on the topic of ‘eCommerce retail trends 2024’. ‘Price is still the most important criterion in online shopping when making a purchase decision. Whether social commerce or personalisation - there is plenty of room for innovation in the fashion sector, but there is also a lot of competition, not least from the new players from Asia,’ says PAYBACK Managing Director Dominik Dommick. According to the panel results, a quarter of online shoppers have already shopped at Temu, with 76 per cent buying there because of the price.
‘German online retailers need to differentiate themselves from the Chinese competition, but they can also learn from them, for example in terms of channel selection and pricing,’ says Dommick. Both Shein and Temu have grown up via social channels. The PAYBACK panel clearly shows that Instagram is the touchpoint for all fashion providers when it comes to young target groups. Shopping is generally taking place more and more via mobile phone: 62 per cent of 18 to 29-year-olds shop primarily via smartphone, and 38 per cent across all age groups.
The major marketplaces are clearly ahead in Germany: 91 per cent of the online shoppers surveyed in the PAYBACK Panel have already made a purchase on Amazon, followed by eBay with 73 per cent, Zalando with 41 per cent, Temu with 24 per cent and Shein with 13 per cent. At 81 per cent, fashion is by far the most popular product category in online shopping, followed by technology (69 per cent) and home & living (68 per cent). Together with around 700 corporate partners, Germany's leading bonus programme PAYBACK rewards 31 million customers with PAYBACK points when they shop, and 12 million users already use the PAYBACK app. The large network of the multi-partner programme includes brands such as Amazon, Aral, Alnatura, Baur, dm-drogerie markt, C&A, Decathlon, h&m, lieferando, OTTO and Yello and, in the course of 2025, the EDEKA Group and Sparkasse.
Listen to Dominik Dommick and the CEOs of eBay and Zalando discuss current developments in eCommerce and retail trends in 2024 in the new digital-kompact-podcast (live recording from K5, June 2024).
You can find a PAYBACK graphic here.