Otto leads online furniture in Germany with 1.5 billion euros in 2020
Consumers all over the world prefer to buy furniture and appliances offline, as is seen in the fact that only 14 percent of total revenues were generated via online sales in 2020. The German furniture market is very offline focused, yet Otto.de is the biggest online store with net sales of 1.5 billion euros.
Many consumers prefer offline stores when buying furniture and appliances. Within Germany, this is the case as well. However, the German furniture market is a flourishing business, with total revenues of 42 billion euros expected for 2021 according to the Statista Consumer Market Outlook. Many online players note a strong growth in their online net sales, which means that more and more sales will be happening online.
German online furniture branch is growing
Otto leads the ranking in online furniture in Germany, due to its traditional mail-order business model. In 2020, the company made domestic sales with a net worth of 1.5 billion euros. This was a 37 percent growth in comparison to its net sales in 2019. There were three other players in the top 10 that reached higher year-on-year growth rates.
Ikea ranks second, with net sales worth 646 million euros, followed by Amazon.de with net sales worth 555 million euros. Ikea’s growth rate was 46 percent in comparison to the year before, while Amazon’s growth was significantly smaller with 28 percent.
Westwing reached a 59 percent growth in Germany
Wayfair follows in rank 4, with net sales of 215 million euros in 2020. However, the store is among the leaders in terms of growth as it registered a net sales increase of 40 percent. The highest growth was reached by Westwing. While it ranks 9th in terms of net sales, it grew 59 percent between 2019 and 2020.
With these growth rates, further net sales growth is projected for many of the current top 10 online furniture and homeware stores in Germany. There is a lot of potential to be tapped for ecommerce businesses in this market.
|Top 10 furniture stores Germany||Net sales (in million euros)||2019/2020 net sales growth|