Germany Buy Now Pay Later Market Report 2021: BNPL Payments is Expected to Grow by 55.5% in 2021 - Forecast to 2028

DUBLIN, Sept. 22, 2021 /PRNewswire/ -- The "Germany Buy Now Pay Later Business and Investment Opportunities (2019-2028) - 75+ KPIs on Buy Now Pay Later Trends by End-Use Sectors, Operational KPIs, Market Share, Retail Product Dynamics, and Consumer Demographics" report has been added to ResearchAndMarkets.com's offering.

According to the Q2 2021 BNPL Survey, BNPL payment in the country is expected to grow by 55.5% on annual basis to reach US$ 18711.1 million in 2021.

Digitalization has gradually started to dominate all sectors in Germany. This impact of digitalization is especially evident in financial transactions. As compared to some other European countries, cash played a bigger role in Germany a few years back. However, the evolving payment landscape and the accelerated push by the coronavirus pandemic have transformed the overall payment industry in the country. 

With consumer demand for BNPL services increasing in the country, online retailers and merchants are looking at BNPL as a marketing tool. The deferred payment solution in BNPL is allowing both online and offline merchants to experience increased basket size, improved conversion rates, and enhanced customer loyalty. However, both online and offline merchants in Germany are expecting the BNPL payment method at point-of-sale (POS) to attract new customers.

Being the largest BNPL market in Europe, Germany also has the highest number of BNPL players in the region. The different BNPL firms operating in Germany include Klarna, Clearpay, PayPal, Ratepay, Scalapay, Divido, and Cashper. While Klarna and Ratepay have been the leading players in the German BNPL sector, smaller BNPL providers such as Scalapay have been raising funds to expand their services in Germany and other European countries.

With the BNPL businesses such as Klarna offering their own banking accounts to consumers, it presents an even more significant threat to the banking industry. Large banks can compete and gain back their market share from the BNPL providers. However, for them to compete, banking players must forge strong relationships with retailers at the point-of-sale, which BNPL companies.

Medium to long term growth story of BNPL industry in Germany remains strong. The BNPL payment adoption is expected to grow steadily over the forecast period, recording a CAGR of 23.8% during 2021-2028. The BNPL Gross Merchandise Value in the country will increase from US$ 12,032.0 million in 2020 to reach US$ 83,619.4 million by 2028.

Scope

Germany BNPL Market Size and Spending Pattern

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Germany Buy Now Pay Later Spend Analysis by Channel: Market Size and Forecast

• Online Channel
• POS Channel

Germany Buy Now Pay Later in Retail Shopping: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Germany Buy Now Pay Later in Home Improvement: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Germany Buy Now Pay Later in Leisure & Entertainment: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Germany Buy Now Pay Later in Healthcare and Wellness: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Germany Buy Now Pay Later in Education: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Germany Buy Now Pay Later in Automotive: Market Size and Forecast

• Gross Merchandise Value Trend Analysis
• Average Value Per Transaction Trend Analysis
• Transaction Volume Trend Analysis

Germany Buy Now Pay Later Analysis by Consumer Attitude and Behaviour

• Buy Now Pay Later Sales Uplift by Product Category
• Buy Now Pay Later Spend Share by Age Group
• Buy Now Pay Later Gross Merchandise Share by Income
• Buy Now Pay Later Gross Merchandise Value Share by Gender
• Buy Now Pay Later Adoption Rationale Gross Merchandise Value Analysis

Companies Mentioned

• RatePay
• Klarna
• Paypal
• Afterpay
• Divido
• Cashper

For more information about this report visit https://www.researchandmarkets.com/r/cj77zf

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SOURCE Research and Markets