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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Germany Refurbished Retail Market Size
The Germany refurbished retail market reached nearly USD 2,940.73 million in 2023. The market is estimated to grow at a CAGR of 14.5% during 2024-2032 to reach a value of USD 10,203.99 million by 2032.
Key Takeaways
- The service sector in Germany accounts for a significant share of Germany’s GDP. In 2018, the service sector accounted for a share of 61.2% and grew by 2.1% to reach 63.3% in 2020.
- Due to the extended warranty and return policy offered by the resellers, the interest of startups and SMEs in buying refurbished devices to lower their capital has surged.
- With initiatives like the Circular Economy Initiative Germany (CEID), the country is adopting a forward-looking framework for changing the outlook of businesses along with science and politics.
The country is witnessing a higher demand for certified refurbished products as they guarantee improved quality and an extended warranty, thereby aiding the Germany refurbished retail market expansion. With this, companies such as eBay are focusing on expanding their certified refurbishment programmes to provide consumers with sustainable and cost-effective shopping alternatives in the form of second-hand or refurbished goods.
Germany is a country with a sizeable population and a high rate of internet usage. A large number of the population routinely purchase online, and the country is a top market in terms of purchasing power and internet usage in all of Europe. Thus, leading companies are increasing their online presence to target potential customers and are focusing on offering improved online services to users.
The online goods trade is gaining massive traction in Germany, as many people are inclined towards online retail stores to purchase electronics, furniture, computers, and other items. The e-commerce penetration in the German market reached 77% in 2021, driven by the perceived benefits of online shopping, which include home delivery, 24/7 availability, and convenience. Amazon.de, otto.de, zalando.de, mediamarkt.de, and lidl.de are the top five online retailers in Germany, accounting for over 45% share in the German e-commerce market.
Germany Refurbished Retail Market Report Snapshots
Germany Refurbished Retail Market Size
Germany Refurbished Retail Market Trends
Germany Refurbished Retail Companies
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The refurbished retail market in Germany reached a value of USD 2,940.73 million in 2023.
The market is projected to grow at a CAGR of 14.5% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach a value of USD 10,203.99 million by 2032.
The product categories are mobile phones, computer and laptops, tablets, smartwatches, networking and gaming, VR, video games-consoles, home audio and Hifi, DVD, Blu-ray and home cinema, health and beauty (hair care and other styling products), and others.
The factors driving the market are increasing internet penetration, rising adoption of cost-effective products by the German population, and increasing sustainability concerns.
About 93% of German adults are online, representing the use of the internet at least occasionally or access to the internet via a smartphone.
The service sector in Germany accounts for a significant share of Germany’s GDP. In 2018 the service sector accounted for a share of 61.2%, which increased to 63.3% in 2020.
The key players in the market include Refurbed GmbH, Back Market, Inc., Amazon Inc., Rebuy recommerce GmbH, eBay Inc., Swappie Oy, and Apple Inc., among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124