One question, one answer: has the pandemic changed the way we pay for our online purchases?
And then suddenly they were closed. Most stores in Germany have had to close temporarily and in some cases for months during the lockdown. If you wanted to buy something that wasn’t exactly tomato soup, canned food, or packaged meat at the supermarket, you had to go to your computer, smartphone, or tablet and order it over the internet.
The shops have been open again for a long time, but Germans still shop a lot and with pleasure online, as a study by the payment service provider Nets shows. According to this study, 46% of Germans now prefer to shop online, which, according to the study, is even more than in physical stores, where 43% of consumers still prefer to go. The remaining eleven percent oscillate between the two options.
However, it’s not just the way we buy, but also the way German consumers pay that is changing today. In recent months, Germans have preferred to pay for their purchases online with an electronic wallet. This includes services like Klarna, Amazon Pay and, most importantly, Paypal, which has long been one of the most popular payment options in Germany. 40% of respondents bought pants, headphones or gifts for Christmas on the Internet using an electronic wallet. As Ibi Research found in a separate study, the US company Paypal is very popular with smaller amounts in particular. Buyers would prefer only the invoice as a method of payment for purchases over 500 euros.
According to the Nets study, the invoice is already the second most used payment method for online purchases. Around 22% of German consumers have recently paid this way online. At a considerable distance, credit card follows with twelve percent, direct debit with eight percent, and only six percent of all consumers send unpaid amounts to the retailer via online transfer.
This means that e-wallets have grown in importance in the pandemic. Although the figures are not exactly comparable due to the different survey methods, a study by the E-Commerce-Center Cologne in 2018 showed a different picture. At that time, around 41% of Germans preferred to buy on account, followed by PayPal with 35%. Something has turned.