Europe Is Outpacing the Americas in E-Commerce Growth This Year
Europe is outpacing the Americas in e-commerce growth right now. Here is why the continent proves more resilient than expected, despite a challenging macroeconomic outlook.
Per Capita Revenue Analysis
Germany has a CAGR of 4.4%, Switzerland the highest revenue. Austria remains somewhere in the middle.

Nadine Koutsou-Wehling
Data Journalist
September 03, 2025
Market Trends

The DACH region shapes eCommerce on the continent. Especially Germany as the sixth largest eCommerce country worldwide is a core revenue driver in the region, of course driven by its size.
Breaking down the eCommerce revenue by population size provides a more accurate image of comparison, however. The per capita view is topic of the following discussion.
At ECDB, each Market Profile now provides a glimpse into Key Market Indicators, including GDP and Population. Taking the DACH region as a case example, how is consumer spend on eCommerce expected to develop?
Germany, Austria and Switzerland are geographically, culturally and industrially connected. In a direct comparison, it is clear that Germany generates higher market revenues, being the economic force in Europe it is. But breaking down the eCommerce revenues by population yields a different picture.
With 84.6 million inhabitants in 2024, Germany is about nine times bigger than its two neighbors Austria and Switzerland, with a count of 9.1 and 8.9, respectively. But population trends and per capita considerations play an important part in assessing market potential.
Still, the per capita figures given should not be taken too literally, more like a rough estimate. Population count includes all inhabitants, including non-consumers such as minors and non-participants in the online economy.
Taking this into account, how does the market potential in the DACH region measure up?
Germany is a curious case. Its population count is declining, but economic growth is nonetheless expected. Due to its market maturity, however, online growth rates are behind global rates, with expectations for growth of 5.2% in 2025. Switzerland is at a same expected rate of 5.2%, while Austria lags with 4.7% growth in 2025.
In terms of per capita development, the forecasted CAGR between 2025 and 2029 places Germany at the top of development in the DACH region with 4.4%. Where citizens spent on average US$1,387 (€1,188¹) per year on eCommerce, the figure is expected to reach US$1,649 (€1,412) by 2029. Between the three countries, this places Germany at a solid middle position in the DACH region, only exceeded by Switzerland with significant higher income levels and propensity to shop online.
Online shoppers in Switzerland belong to the most eager to spend in world eCommerce. Where the United States, United Kingdon and South Korea are at per capita spend of over US$2,000, Swiss per capita approaches this threshold with US$1,913 (CHF1,542) in 2025. By 2029, eCommerce spend is expected at US$2,200 (CHF1,774).
In a comparison between Switzerland and the other parts of the DACH region, Switzerland has a high potential for eCommerce development, despite a relatively low CAGR (2025-2029) of 3.6% for per capita spend.
Situated in the center between Germany, Italy and France, Swiss eCommerce habits are similarly divided. That distinction is visible by the top marketplaces in Swiss eCommerce, including Amazon (the German domain), Galaxus, Digitec, Zalando and Ricardo.
By contrast, Austria shows a stronger orientation toward the German market, both in terms of consumer behavior and the dominance of German platforms. This close alignment makes Austria less distinct within the DACH comparison, whereas Switzerland demonstrates a more unique mix of influences. Ultimately, Austria is lagging behind the other two markets.
In terms of per capita spend, Austria is at US$1,313 (€UR1,125) in 2025. With a higher expected CAGR than Switzerland’s, Austria is set to reach an average spend of US$1,522 (€UR1,305) by 2029.
Austria’s rather flat development is powered by international marketplaces, particularly those of German origin. They include Amazon (the German domain), eBay, Otto, Zalando and Temu.
Taken together, the DACH region shows three distinct eCommerce paths: Germany with steady growth from a mature base, Switzerland with high spending power and a local mix of influences, and Austria with slower progress and heftier reliance on German platforms.
(1) US$ to €UR currency conversion as of 19 Aug 2025, 14:08 UTC - Morningstar
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