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.
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Overview:
Consumer Profiles reports provide key insights into the country's consumer landscape and uncover related business opportunities in 40 countries.
The Consumer Profiles offer valuable statistics and insights into key consumer indicators, linking household size, age, income, and spending patterns to behavioral trends and consumption habits. Utilizing a wide range of socioeconomic data, these reports quantify behaviors, preferences, and motivations both presently and forecasted across 40 markets. Analysis also encompasses Euromonitor’s lifestyles survey results, alongside the examination of longer-term shifts in consumer attitudes and behavior, analyzing their impact within each of the 40 countries. Consumer profiles are constantly changing, influenced by both socioeconomic factors and behavioral changes. Understanding these shifts is imperative for businesses to maintain competitiveness and adapt in order to capitalize on emerging opportunities.
The Consumer Profiles in Germany report includes:
A high-level analysis of socioeconomic data, including insights on demographics, income and expenditure, households, and consumer lifestyles backed by both in-house statistics and survey data. It also provides a concise compilation of socioeconomic data, offering a snapshot of the consumer landscape today (2022) and in the future (2040). The report is also illustrated with relevant and actionable case studies
The Consumer Profiles in Germany report answers:
- How consumers in Germany are changing?
- What are key changes in Germany population, society and generational structure and how it is affecting businesses?
- What is the household structure in Germany and how it is changing consumer landscape?
- What are key income groups in Germany? What is the outlook for the future?
- Where consumers are spending the money in Germany?
- How is the consumer mindset in Germany changing?
- In Germany, what are consumer attitudes towards “green” and sustainable products?
- Where and how do consumers shop in Germany?
Scope
Key findings
Key drivers affecting consumers in Germany in 2023
How developments today shape the consumers of tomorrow
Today 2023: Baby boomers remain the most prevalent cohort as German population ages
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
Tomorrow 2040: Seniors is the only segment to increase in number
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
Today 2023: Average household size decreases as number of childless households rise
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
Tomorrow 2040: Singletons is the only household type to rise in number
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
Opportunities for growth
Habyt to launch a co-living development in Leipzig to cater growing rental demand
Today 2023: Income growth unable to offset inflations, constraining purchasing power
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
Tomorrow 2040: Senior consumers to witness the fastest growth in average gross income
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
Opportunities for growth
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
Opportunities for growth
Repairability is being pushed by policy initiatives and as a claim by manufacturers alike
Key takeaways
Buy Consumer Profiles reports to:
Gain a thorough knowledge of shifting consumer landscape and attitudes s and fill in information gaps to inform product/service development, market positioning and channel strategy.
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