Retail in Germany: Coronavirus (COVID-19) Country impact

Summary

The Coronavirus (COVID-19) country report analyses how the pandemic will impact retail spend in Germany.

Coronavirus is forecast to take €32.9bn out of German retail spend in 2020 on the back of stringent lockdown measures being adopted by the government to curb the spread of the virus.
German consumers have opted out of discretionary spending during the crisis and have totally stopped/reduced buying non-essential product categories such as clothing, footwear, electricals, and furniture.

Scope

• The government announced a €750bn stimulus package to keep the economy in check, with GDP forecast to decline 5.02% in 2020 following a challenging 2019
• We expect sectors such as fashion, beauty and home to continue to suffer from weak demand even now that the lockdown regulations have been lifted, and we do not expect to see more normal levels of spending patterns among Germans until Q4 at the earliest.
• In contrast, sales of food and health products continue to see significant growth, aiding the grocers channel and stimulating footfall to the health & beauty specialists despite categories such as skincare and beauty suffering.

Reasons to Buy

• Use our revised market forecasts out to 2024 to understand how the German retail market will perform.
• Use our in-depth analysis to review how key retailers have responded to COVID-19.
• Use our data on key consumer shopping and lifestyle habits to see how the population have responded to the impact of COVID-19.