How current events are shaping German consumer behavior

German consumers are pessimistic about the economy. Rising prices and the invasion of Ukraine are top concerns, and we see a significant down-trade in shopping.

In Germany, consumers’ top concerns are rising prices and the invasion of Ukraine, followed by climate change and COVID-19. Pessimism about the current and future state of the economy has eased but remains at a level comparable to attitudes in the early months of the COVID-19-pandemic. As spend for groceries and gasoline soared, consumers reduced money directed to savings and spent less on non-essentials. Of the 70 percent of consumers who have assumed new shopping behaviors in the last three months, more than four out of ten tried private labels. Trade-down in stores visited and brands is clearly visible, with the key drivers of choice being prices and value for money. However, 46 percent of consumers say they plan to splurge in 2022.

These exhibits are based on survey data collected in Germany on June 8–12, 2022. Check back for regular updates on German consumer sentiments, behaviors, income, spending, and expectations.

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