“TK Maxx’s decision to enter the German e-commerce market marks a significant step in the retailer’s shift towards omnichannel market penetration. Alongside Primark and New Yorker, TK Maxx is the only major fashion chain that does not operate an online shop in Germany. Now, the off-price chain is preparing for its entry into the world of German e-commerce - aiming to elevate business in that market to a whole new level. According to Mintel’s Global Covid Tracker (COVID-19's impact on German consumers: 6-15 September 2021), 35% of German consumers are shopping more online, and 34% are trying to limit time spent in-store. By taking their German operations online, TK Maxx will reach these consumers and cater to a wider consumer base.
With online retail sales projected to grow by 13.5% to reach €94.4 billion in 2021 (Online Retailing - Germany - 2021), there is huge potential for retailers to drive sales growth by strengthening their online presence. The decision by the US off-price retailer is a significant one as it indicates the importance of the online channel for the sector; according to the Clothing Retailing - Germany - 2020 Report, 62% of German consumers shop for clothing online.”