German trade lobby ups online retail forecast for this year
BERLIN, May 19 (Reuters) - Demand is growing for online retail in Germany, the HDE trade association said on Monday, increasing its forecast for the year despite subdued consumer sentiment.
The HDE now expects 2025 online retail revenue in Germany to increase by 4% year on year to 92.4 billion euros ($103.6 billion), compared with previously forecast growth of 3%.
"Online retail is once again the clear growth driver in retail in Germany after a number of weak years," HDE deputy head Stephan Tromp said in a statement.
The HDE said particularly strong growth has been seen in online shopping for food and drugstore goods.
German consumer sentiment has improved somewhat in recent months on hopes of economic stimulus under a new government but it remains firmly in negative territory, with trade tensions and a protracted downturn weighing on households.
($1 = 0.8916 euros)
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