German Web Investments to Rise

Share this content:
Most of Germany's major companies plan to continue investing online this year, and none of the 30 firms that make up the Dax, the German equivalent of the Dow Jones Index, intend to cut their Internet budgets.

A survey conducted by the German business newspaper Handelsblatt found that all Dax members plan to make their businesses fitter for the Internet.

Many other German enterprises only began putting money into their Web activities last year and therefore plan to spend more money on e-commerce projects this year than they did in 2000.

Handelsblatt cited a Morgan Stanley Pan-European study that found the dot-com crisis has not affected the investment behavior of large corporations, with more and more funds flowing into business-to-business transactions.

Financial institutions are making the largest Internet commitments. Deutsche Bank, the country's largest, plans to invest 500 million euros ($450 million) in e-commerce projects this year. Rival Commerzbank has budgeted 1 billion euros through 2002.

Surveyed companies described their e-commerce projects as "key investments" for the future with "strategic considerations" far more important than the ups and downs of the business cycle.

Many other companies, Handelsblatt reported, want to invest online because an economic downturn seems in the offing and they expect greater efficiencies from Web-based operations. One chemical giant has budgeted 75 million euros.

German automakers are following the lead of U.S. companies in building Internet buying platforms. Battered Daimler Chrysler plans to invest 550 million euros (about $500 million) in the Web, most of it going to the Covisint platform.

But the company has not abandoned the consumer business and is talking to T-Online, Europe's biggest Internet service provider, about opening a Mercedes-Benz portal.

And Deutsche Telekom is looking into putting half of its 10 billion-euro purchasing budget online.

Next Article in Digital Marketing

Sign up to our newsletters

Company of the Week

PAN Communications is an award-winning integrated marketing and public relations agency for B2B technology and healthcare brands. PAN's data-driven approach allows the firm to specialize in public relations, social media, content and influencer marketing, and data and analytics. PAN partners with brands to create unique, integrated campaigns that captivate audiences.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above