PUBLISHER: Euromonitor International | PRODUCT CODE: 1646495
PUBLISHER: Euromonitor International | PRODUCT CODE: 1646495
Germany: Consumer Profile
German population is set to shrink by 2040, driven by low birth rates. The senior population is set to continue growing, while the working-age group to diminish, putting pressure on healthcare and social systems. Solo living is projected to rise, driven by an aging population and shifting lifestyle patterns, increasing housing demand. A preference for renting over owning homes is set to expand. Economic activity distributed across several major cities, ensuring a balanced consumer market.
Euromonitor's Germany: Consumer Profile report analyses factors influencing national consumer expenditure. Consumer lifestyles reports include coverage of: population, urban development, home ownership, household profiles, labour, income, consumer and family expenditure, health, education, eating habits, drinking habits, shopping habits, personal grooming, clothing, leisure habits, savings and investments, media, communication, transport and travel and tourism. Use this report to understand the factors influencing a nation's lifestyle choices.
Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Consumer Lifestyles market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market's major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
TABLE OF CONTENTS
Scope
Key findings
Key drivers affecting consumers in Germany in 2023
How developments today shape the consumers of tomorrow
Immigration to remain the population growth driver, helping to slow population ageing
Germans are less likely to participate in physical exercise, but vitamin usage is relatively high
Millennials to emerge as a dominant consumer segment, surpassing Baby Boomers
Rural migration unable to offset the working-age population decline in major German cities
Opportunities for growth
German start-up Reframd launches " Afropolitan " sunglasses designed to fit black faces
One of the largest rates of singletons due to shifting lifestyles and population ageing
Most Germans reside in rented apartments, unable to benefit from rising property prices
Men to remain primary decision-makers due to prevailing traditional gender romes
Germany to remain among the most digitalised countries, yet its public sector to lag behind
Habyt to launch a co-living development in Leipzig to cater growing rental demand
High inflation for two consecutive years leaves consumer concerned over elevated living cost
Younger cohorts to spend on experiences, Baby Boomers focus on health and essentials
Income growth is set to intensify yet structural challenges are set to hinder the progress
Discretionary spending is set to expand slightly on the back of rising incomes
Lidl develops a gamified loyalty app enabling budget-conscious consumers to save money
Key findings of consumer survey
All German generations seek high-quality, value for money household essentials
Germans are keen bargain hunters, reflecting their practical approach to spending
Germany's youth faces challenges aligning sustainability with their lifestyles
Germans face lower financial confidence and optimism due to current economic challenges
For Gen X, balancing careers and family responsibilities makes job security essential
Repairability is being pushed by policy initiatives and as a claim by manufacturers alike
Key takeaways
