The Christmas business is now in full swing in December. We are looking for the right gifts for family and friends for Christmas or have already bought great presents. In addition to our loved ones, the retail trade is also benefiting from the rising consumer behavior of Germans before Christmas. This makes his Christmas turn probably his biggest sales in the year. Conversely, this brings with it another advantage: the more Germans spend on Christmas presents, the higher the economic growth. What is the general purchasing mood of the Germans and how does their consumption behavior affect the Christmas business?
What is currently the consumption behavior of Germans?
According to recent research by the market research institute , German consumer behavior stopped in October 2017 for the first time after five years of increase. The consumer climate indicator dropped from 10.9 to 10.8 points, but remains at a good level. Experts assume that consumer behavior remains important for economic development in Germany. Especially for autumn economists expect a solid growth course, which should compensate for the slight loss. As long as the economy continues to be as positive as it currently is, there should be no loss in retail sales: the German economy is doing well. The income of workers is still at a high level, which also maintains the propensity to buy.
What is the general consumer behavior of Germans before Christmas?
According to experience, especially in November and December, the consumer behavior, because Christmas is just around the corner. Then more money is spent in gifts for the feast. Traditionally, the Christmas business starts around the 1st of November and ends on the 24th of December. The term “Christmas business” refers specifically to the turnover made by the retail trade before Christmas. November and December are the two months with the highest turnover for the whole year. The following companies and industries contribute particularly to the turnover during the Christmas business:
- Toys departments for children
- Jewelry industry
- textile industry
- book trade
- Outlets for Christmas trees and jewelry
- Stands on the Christmas markets in Germany
What is spent for Christmas presents?
According to statistics, Germans want to spend 266 euros on Christmas presents in 2017, the same amount as in the previous year. By comparison, consumers spent around € 259 in 2015 and only € 219 in 2014 for Christmas gifts. The highest value in the last ten years was in 2013 with a consumption of 273 euros for gifts. The Germans give products from different industries and spend different amounts of money. For 2017, expenditure is expected to be distributed on average as follows (a total of 1,000 consumers aged 18 or over were interviewed):
- 72 euros for gift vouchers or money gifts
- 28 euros for clothes
- 27 euros for books
- 22 euros for toys
- 14 euros for jewelry
What do experts expect for the 2017 Christmas season?
Economists expect that Germans will increasingly move into real business for this Christmas business. Consumers want to inspect the products before purchase, see their original colors, feel them, and seek expert advice on the properties of the products. In short: You want to increase the classic shopping experience again. German consumers want to spend around 63 euros in department stores alone, which equates to an increase of 50 percent compared to 2016. According to a study 12 percent of those surveyed also prefer to do their Christmas business 2017 online. You, in turn, enjoy browsing comfortably from home in different shops to find the perfect gift for their loved ones.