Germany Retail Consumer Insights – Spending Intentions and Shopping Habits, 2024
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Germany Retail Consumer Insights Report Overview
Most consumers expect the economy to worsen due to economic uncertainty and inflation, thereby impacting retail spend. More than 46% of German consumers are buying more of a store’s own-brand products to cope with rising prices. Furthermore, saving money and sustainability are the key factors encouraging consumers to purchase or sell secondhand items
The Germany retail consumer insights report provides detailed consumer insights into Germany’s retail market. It focuses on the macroeconomic environment, consumer sentiment, cost pressures, offline retail, online retail, and secondhand products.
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Germany Retail Consumer Insights - Consumer Sentiment
German consumers intend to spend less than usual on retail goods and services over the next six months. Across categories, most German consumers are inclined to spend on essential food & grocery items, health & beauty, and clothing & accessories. This highlights that consumers are prioritizing food basics and personal well-being. In contrast, there is a decline in planned expenditure on non-essential items, including furniture & floorcoverings, entertainment, and clothing & accessories.
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Germany Retail Consumer Insights – Cost Pressure
German consumers are becoming more savvy when shopping. Consumers are mostly choosing own-brand items over branded items and seeking out cheaper brands when buying branded items. However, there are distinct behavior differences in males and females. German males appear less willing to change where they shop but would rather buy less and from the same brand. On the contrary, German women appear to research more online for price comparisons and are happier to switch. Females are also more inclined to adhere to a strict budget compared with males.
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Germany Retail Consumer Insights - Offline Retail
The highest proportion of German consumers shop weekly at their neighborhood shop compared with any other destination, highlighting the significance of local convenience. City/town centers attract consistent but less frequent traffic than neighborhood shops, with more than 26% visiting once a month, reflecting the attraction of centralized commercial areas.
The majority of German consumers continue to shop in physical stores as stores work harder at their in-store experience. The younger age groups show a higher inclination to initiate physical store shopping, indicating a potential revival of traditional retail among younger demographics.
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Germany Retail Consumer Insights - Online Retail
For food & grocery, the online shopping experience does not influence almost a third of German consumers, significantly more compared with other sectors. In contrast, categories like clothing, health & beauty products, electricals, homewares, and furniture & floorcoverings exhibit a higher percentage of respondents stating that the online shopping experience often influences their product choices. This is because product information, user reviews, and visual presentations online, help consumers make informed purchasing decisions.
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Germany Retail Consumer Insights – Second-Hand Products
Consumers with lower incomes are more inclined towards purchasing secondhand pre-owned or used products. They are more likely to opt for cost-effective alternatives due to budget constraints.
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Key Highlights
- Close to half of German consumers intend to cut back on retail spend
- The older demographic shows the highest concern regarding future finances
- Sustainability and cost-effectiveness drive the secondhand market
Reasons to Buy
- Understand how different demographics in Germany view the health of the economy over the next six months and their finances
- Discover consumer views about shopping in physical stores, including their views on self-checkouts, and how they see their shopping behavior changing in the short term
- Understand German consumers’ preferred social media platforms, to better target your social media activity
- Learn about German consumers’ perception of buying and selling secondhand items, understanding who is most likely to engage in this emerging market
Table of Contents
Frequently asked questions
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Which category does German consumers are more inclined to spend on?
Across categories, most German consumers are inclined to spend on essential food & grocery items.
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Why are consumers in the German retail market opting for second-hand products?
Consumers with lower incomes are more likely to opt for cost-effective alternatives such as purchasing second-hand items due to budget constraints.
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Which is the most preferred mode of shopping for German retail consumers?
The majority of German consumers continue to shop in physical stores as stores work harder at their in-store experience.
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