Stay ahead of the curve and future-proof your business with Mintel’s German Lifestyles Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest consumer trends and behaviours affecting your industry in Germany. Get a 360° view of consumer lifestyles in Germany including spending habits, consumer attitudes, and forecasted growth to help you align your business strategy with the needs of your audience.
Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.
Topics Analysed in this Report
- A detailed overview of German consumer lifestyles, including expert insights.
- Expected changes in consumer spending habits in the next six months.
- Most important aspects for brands to prioritise while trying to keep prices low.
- Consumer attitudes towards what is worth paying more for.
- Market expectations for the coming months, including the perceived likelihood of a recession, consumer confidence, and the impact of the German energy transition on budget planning for 2023.
- How your business can tap into market opportunities in the German economy.
An Overview of Consumer Lifestyles in Germany
- 69% of Germans expect further price increases in essentials.
The ongoing cost of living crisis has inflicted significant damage on people’s finances, and high inflation continues to take a toll on German households’ budgets with little room for extra spending.
However, the continued price rises are expected to cushion the effect on overall spending, resulting in an above-average increase of consumer expenditure.
The German Lifestyle: What Consumers Want and Why
- The Impact of Inflation on German Consumer Lifestyles: As inflation levels remain high, saving money is the key priority for Germans. Hence, consumers focus on savings and cut back on discretionary spending like foodservice and fashion. But changes in spending behaviour can also be observed in non-discretionary categories: 52% plan to only purchase household care products when they’re on offer. Once inflation decreases, consumer sentiment will recover in time, with better-off Germans likely to gain back their financial confidence faster.
- Opportunities in the German Market: Brands are well-advised to continue supporting their customers through the current crisis and make sure that their products and services remain affordable for a wide variety of people. As more affluent Germans are better able to cope with high inflation, brands that follow a premiumisation strategy will find appeal among a wide variety of consumers, as 29% of 16 to 24-year-olds plan to buy premium food for at-home consumption.
The German Economy: A Market Forecast
- Once inflation rates flatten, consumers will put less emphasis on price. The loosening of spending restrictions will boost discretionary markets, such as fashion and foodservice, as well as sales of big ticket items, e.g. furniture. Consequently, consumer expenditure is expected to follow a more moderate growth.
To learn how to connect with your audience, purchase our German Lifestyles Market Report 2023 in full. Reveal lucrative innovation opportunities to help your business grow during times of financial uncertainty.
Products and Brands Discussed in this Report
Brands: Oxfam, Ethikis, Nubank, Aldi, REWE, NIVEA, Deutsche Bahn, C&A, Zara, PUMA, Netto, MediaMarkt, Saturn, Samsung, Tchibo, Sellpy, Nike, Deutsche Telekom, Fairphone, Microsoft, and more.
Products: Holidays, leisure/entertainment, foodservice (in restaurants and takeaway), healthcare products, clothing, accessories, footwear, technology and communications, premium food for at-home consumption, beauty products, toiletries, home and garden products, household care products, alcoholic drinks for at-home consumption, and more.
Additional Features Included with Your Purchase
- Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
- Custom PowerPoints: Incorporate our consumer research data into your own work so you can win over your clients and stakeholders. Select insights from your report to create a custom presentation that is ready to download in minutes.
- Different Digital Formats: PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentations.
- Mintel’s Clients Portal: Our portal provides instant access to actionable analysis, podcasts, and trend pieces relevant to your industry that are published almost daily, as well as our annual Global Consumer Trends. You can also browse our extensive catalogue of market research reports.
Expert Insights on German Consumer Lifestyles
This report, written by Dr. Jennifer Hendricks, Senior Analyst, delivers in-depth commentary and analysis to highlight consumer trends in Germany and add expert context to the numbers.
Continuously high inflation makes Germans prepare for a difficult fall and winter. Brands that offer affordable products and services across different income brackets will resonate the most with German consumers.
Dr. Jennifer Hendricks
Senior Analyst – Consumer Lifestyles, Germany
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EXECUTIVE SUMMARY
- Key issues covered in this Report
- Market context
- Mintel predicts
- Opportunities
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MARKET DRIVERS
- The German economy
- Graph 1: key economic data, in real terms, 2019-24
- Inflation
- Graph 2: consumer price index, 1973-2023
- Energy crisis and Germany’s energy transition
- Income and household finances
- Graph 3: development of real and nominal earnings and consumer prices, Q1 2020-Q1 2023
- Graph 4: financial situation, 2022 vs 2023
- Graph 5: financial confidence index, 2022-23
- Graph 6: financial situation over the next year or so, by net monthly household income, 2023
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WHAT CONSUMERS WANT AND WHY
- Expected changes in spending behaviour
- Graph 7: expected spending changes in the next six months compared to the last six months, 2023
- Graph 8: number of areas consumers plan to spend more on in the next six months compared to the last six months, by age, 2023
- Graph 9: consumers who would prioritise adding to their savings if their financial situation improved, by net monthly household income, 2023
- Graph 10: additional discretionary spending priorities if consumers’ individual financial situations improved (top five), 2023
- Graph 11: expected changes in spending on premium food for eating at home in the next six months compared to the last six months, by lifestage, 2022
- Graph 12: plans to spend less on selected discretionary categories in the next six months compared to the last six months, by financial situation, 2023
- Graph 13: expected changes in spending on beauty products and toiletries in the next six months compared to the last six months, by gender and age, 2022
- Graph 14: expected changes in spending on healthcare products in the next six months compared to the last six months, by net monthly household income, 2023
- Trading-down behaviours
- Graph 15: how consumers plan to spend less on selected discretionary categories in the next six months compared to the last six months, 2023
- Graph 16: how consumers plan to spend less on clothing and accessories (incl footwear) in the next six months compared to the last six months, by net monthly household income, 2023
- Graph 17: how consumers plan to spend less on food in restaurants/from takeaways in the next six months compared to the last six months, by age, 2023
- What brands should still prioritise in times of high inflation
- Graph 18: consumer assessment of most important things for brands to prioritise while trying to keep prices low, 2023
- Graph 19: consumers who think that it is most important for brands to promote equality in society while trying to keep prices low, by generation, 2023
- What it is worth paying more for
- Graph 20: consumer assessment of aspects worth paying more for, 2023
- Graph 21: consumers who think that it is worth paying more for products from a brand they shop frequently with, by age, 2023
- Behaviours and expectations for the coming months
- Graph 22: consumer behaviours and expectations for the coming months, 2023
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MARKET SIZE, SEgmentation AND FORECAST
- Graph 23: estimated consumer expenditure in €bn, by sector, 2023
- Graph 24: percentage change in consumer spending in selected sectors, by sector, 2021-22 and 2022-23 (est)
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APPENDIX
- Appendix – abbreviations, consumer research methodology and language usage
- Appendix – market size and central forecast methodology
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