Buying products and services online has long been part of everyday life. 80 percent of Germans shop on online at least once a month, primarily with German providers. A study by the financial services provider PPRO shows that Germans would also be willing to buy from foreign online shops – if it weren’t for the problem of payment methods.

What the German doesn’t know, he doesn’t trust. This also applies to unknown payment methods in online shops. A study by the British financial services company PPRO shows that almost a third of all online shoppers have never purchased from a foreign provider. And this despite the fact that foreign online shops often make you save money or simply offer items that are not sold on the German market.

The survey results show that older users in particular have never purchased anything outside Germany. This group includes 44.9 percent of over-54-year-olds and 39.5 percent of 45- to 54-year-olds. In addition, women are more sceptical than men: while 37 percent of women have never bought in a foreign online shop before, only 27.5 percent of men have done so.

Payment methods as hindrance

75 percent of all respondents stated that they shop at foreign online shops if they have access to familiar payment methods. However, the offer of only one known payment method was not sufficient. “This is why a good payment mix is required, which merchants should offer in their shops – whether at home or abroad,” says PPRO.

Foreign online market China booming

After all, two thirds of all respondents have so far made cross-border online purchases this year. The number of online orders in Chinese shops rose to 38.2 percent. For comparison: In 2014, only 23.6 percent of all foreign orders were placed with Chinese online retailers. Above all, young buyers, half of whom were 18 to 24 and half 25 to 34 years old, made purchases in the Far East. There was hardly any movement in US online trading: in 2018, 25.8 percent of foreign orders were placed in the USA, in 2014 it was 25.4 percent. Developments in the European market even declined. While in 2014 it was 46.7 percent, only 39.7 percent of Germans ordered their products and services in other European countries in 2018.

 

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Image: iStock

//JF