Retailers have been moderately satisfied with Christmas business so far. Many consumers keep their money together. What gift trends are emerging this year?
For many children it is the most wonderful time of the year, for many adults it is the most stressful – and for retailers it is the most important: the weeks before Christmas. But many people are worried about the future, about jobs, safety or health. Others are frightened by high prices.
That's why many consumers vacillate between the need to save and the joy of giving gifts, says Rolf Bürkl from the Nuremberg Institute for Market Decisions, which researches our consumer behavior tagesschau24: “Many people want to treat themselves to something, even give something as a gift.”
Event voucher trends
But budgets are limited and the savings rate is increasing. Many were looking for particularly cheap goods: “Especially during Black Week, on Black Friday, consumers bought a lot. Lots of discounts were advertised. Here, consumers try to stock up as cheaply as possible.”
After all, people on average spend as much at Christmas as they did last year. Budgets remained stable, but people bought more consciously, the consumer expert adds: “Gifts for experiential consumption are very popular – vouchers for restaurants, concerts, trips.”
Christmas business so far rather slow
A new trend: used items can also be put under the Christmas tree. According to a survey by the management consultancy Deloitte, a third of consumers can imagine buying second-hand electronic devices, for example – in order to give gifts in a more sustainable but also cheaper way. This option is becoming increasingly popular, especially among young people. Technology is also in demand in retail during the Christmas season. In addition, cosmetics and books are on many wish lists, but clothing and shoes are less so.
Overall, retailers have so far only been moderately satisfied with what they consider to be the most important time of the year: According to a survey conducted by the German Trade Association among 318 companies, Christmas business has been sluggish to date. Only a third of the companies surveyed were satisfied with the process. The retail association HDE estimates that there will be 1.3 percent more sales this year than a year ago.