People in Germany are generally satisfied with their current primary bank or financial services provider, which may explain why loyalty remains high. However, 29% of respondents are either already deciding to change or are considering a change in the next year. This group should be closely watched, especially as new digital-only banks are entering the market.
When looking for information on topics like financial services, banking, or product research, people tend to trust family, friends, or colleagues the most. Sixty percent of respondents in Germany say information from family, friends, or colleagues is helpful or very helpful.
Consumers use a mix of channels to communicate with their bank, but online banking and websites are the most common, while in-person and phone interactions are less often used.
Globally, 77% of respondents say they use online banking or a bank’s website to communicate or interact with their bank most frequently. In Germany, 53% say they use online banking or a bank’s website most frequently.
Thirty-eight percent of people in Germany currently have an account with a digital-only bank, compared to a global average of 56%.
People are drawn to digital-only banks for their simplicity, convenience, innovative products and services, competitive rates, efficient customer service, user-friendly digital experience, transparent fees, personalized offers, and security.
For those who do not have an account with a digital-only bank, the most common reasons are a preference for established financial institutions (37%), no need for a digital-only bank (36%), fewer or unproven product features (30%), concerns about privacy (19%), perceived lack of security (14%), complexity (12%), lack of digital literacy (11%), intent to open an account in the future (11%), limited product offerings (10%), and less competitive rates (8%).
To improve the digital banking experience, people in Germany would like financial services companies to provide more convenient customer service, personalized content and offers, and tools to help them manage their finances. Desired features include contactless payment options, personalized content/offers, money management tools, investment query tools or access to financial advice, community or crowdsourcing for savings or investment ideas, enhanced security and authentication, advanced digital tools for wealth management, enhanced credit scoring and loan application tools, and money-saving and rewards programs for digital banking.
Ecommerce continues to be a routine part of shoppers’ lives. In Germany, 51% of consumers shop online at least weekly, with 6% shopping multiple times a day.
Shoppers in Germany plan to keep shopping regularly online. Many say they expect to shop online about as much or more than before:
Globally, 32% expect to shop more, 61% about the same, and 7% less.
In the first half of 2021, 55% of German consumers purchased something through an online retailer’s website or app, 36% used a marketplace, and 30% used a brand’s website or app. Only 8% used a social media platform, compared to 18% globally.
German consumers use a mix of devices to shop online, with desktops/laptops (57%) slightly more popular than smartphones (37%) and tablets (5%).
Consumers prefer to shop with brands that make purchasing easy and secure. Fast shipping (60%), easy navigation and security (48%), and a marketplace with many options (48%) are primary drivers of brand choice. Other important features include the ability to buy directly from the brand (39%), a mobile app to manage orders and make purchases (29%), personalized recommendations (27%), product information and reviews from other customers (27%), loyalty programs (26%), buy now/pay later options (19%), shopping with friends or family (17%), shopping via social media (17%), and shopping via livestream (12%).
Consumers are confident in their ability to shop online, but many still prefer to shop in person for certain products (44%) or because they want to see or try the product before buying (41%). Sixty percent of consumers in Germany say they are satisfied with their online shopping experience, and 57% say they will abandon an online retailer if the checkout process is too complicated.
To improve the shopping experience, consumers want more personalized content and offers, as well as more digital tools and services. Desired features include cashback partnerships or buy now for bonus products or rewards (39%), personalized content and offers based on shopping habits (37%), personalized discounts for loyalty or repeat purchases (32%), cashback/discounts for using certain payment methods (31%), virtual or augmented reality to visualize products (31%), and the ability to manage money/finances through the retailer (17%).
More than half of consumers (57%) say they will abandon an online retailer if the checkout process is too complicated, and 60% say they are satisfied with their online shopping experience. However, local online experiences, such as language and currency, are important to German consumers, and retailers need to design for shoppers’ regional needs to keep them engaged.
Twelve percent of people in Germany say they have used telehealth, one of the lowest rates globally (global average: 73%). In the first half of 2021, 77% of German patients say they have not had a health care visit, and only 23% have had a health care visit with a doctor or other health care provider during this period.
Only 6% of patients say they have delayed or put off seeing a health care provider in the past six months due to lack of telehealth or telemedicine options (1%).
Exposure to COVID-19 remains a concern, particularly for those with chronic conditions and/or for German patients who describe themselves as vulnerable. Lack of time (16%) and inability to take time off from work (14%) also impact people’s ability to delay care.
Though adoption is low, patients in Germany who have used telehealth services say they are willing to continue using telehealth at the same or greater rate (77%) after the pandemic subsides.
To improve telehealth experiences, patients in Germany say they want more services, including the ability to get prescriptions and referrals, and to have a single digital location for their full doctor history in the future.
Men in Germany are slightly more likely to use telehealth services more in the future. To improve telehealth experiences, patients in Germany say they want more services, including the ability to get prescriptions and referrals, and to have a single digital location for their full doctor history in the future.