Enjoy complimentary customisation on priority with our Enterprise License!
The department stores market in Germany is poised to grow by USD 1.85 billion accelerating at a CAGR of 4.09% between 2022 and 2027. Additionally, the market is fragmented in nature and shows a YOY growth of 3.62%. The report covers diverse dimensions such as the market size of forecast and historic data, influential drivers, analysis of prominent vendors, and evolving trends, presenting a comprehensive outlook on the global market scenario.
Rapid urbanization and rising consumer spending is a key factor driving the market growth. The comprehensive report of the department stores market in Germany offers crucial insights into the industry's changing dynamics, helping businesses to identify growth opportunities in the constantly evolving digital retail landscape.
The market is Segmented as
1. Product- The product segment is classified into consumer electronics and electricals, home furniture and furnishings, cosmetic and fragrance, and others.
2. Type- The type segment is classified into up-scale department stores, mid-range department stores, and discount stores.
Department Stores Market in Germany market size, Request for Free Report Sample
The growth of the Germany department stores market is prominently fueled by rapid urbanization and increased consumer spending. Germany exhibits varying population densities, with cities like Berlin, Hamburg, and Bremen being the most densely populated. Over 75% of the population resides in urban areas, with Berlin and Hamburg having the highest concentrations. This rapid urbanization has created substantial growth opportunities for department stores, aided by high employment rates, increased immigration, and enhanced wages in the country from 2021 to 2022.
Notably, consumer spending in private households reached nearly USD 1.86 trillion in 2021. In 2022, the population in Germany engaged in significant online purchases, particularly in clothing and shoes, followed by books, music, and games, falling under the media category. These factors are expected to drive continued market growth in the forecast period.
A significant trend in the Germany department stores market is the growing demand for private-label brands, observed notably in 2022 for grocery and apparel products.
Despite a market dominated by a few retailers, there is a robust and expanding line of private-label products. Popular private-label groceries, including soft drinks, frozen and refrigerated foods, alcohol, snacks, and confectionery items, are experiencing increased demand.
Furthermore, these private-label brands offer a majority of products at competitive prices, fueling demand across retail outlets in the country. Shifting consumer expectations, emphasizing premium products at reasonable prices, have prompted the launch of private-label brands, consequently boosting the growth of discount department stores and supermarkets in Germany. These factors are anticipated to contribute to the market's growth in the forecast period.
The market share growth by the consumer electronics and electricals segment will be significant during the forecast period. Some of the products with the highest demand in this segment include smartphones, tablets, televisions, air conditioners, and refrigerators, among others. Besides, there is a growing demand for wearable electronics. These include fashion electronics and activity trackers (including smartwatches from Apple and Samsung).
The consumer electronics and electricals segment was valued at USD 2.61 billion in 2017 and continued to grow by 2021. Moreover, the increasing sales of consumer electronics and electrical items from supermarkets and specialty stores have also adversely impacted sales in department stores. Low-price discount stores and traditional supermarkets have dominated the retail sales of consumer electronics and electrical products.
In 2022, Media Market Saturn Retail Group, a specialty store, was one of the biggest electronic retailers in Germany. The increasing preference for specialty stores and supermarkets for the purchase of electronic products has drastically impacted sales in department stores. Therefore, the segment is expected to witness slow growth during the forecast period.
Aldi Group - The company offers department stores such as grocery stores. It also offers products such as snacks, breakfasts, and baby items.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market vendors, including:
The slowdown in sales in retail stores may impede the Germany department stores market growth.
In recent years, the sales of retail goods, including clothes and apparel, electronic products, bags, toys, and other such products through department stores have witnessed a sharp decrease around the world. For instance, in Germany, certain department stores have either shut down their operations or filed for bankruptcy. This can be majorly attributed to the changing preference of buyers toward shopping malls and e-commerce websites.
For instance, in March 2023, in Germany, real retail sales decreased by 6.5% compared to the same month last year, mainly due to the growth in the number of malls and large departmental stores in the region. Besides, in the last three years, the online sales of these department stores have grown significantly. In June 2022, retail sales volumes declined 8.8% compared to the same month last year, as per Destatis, which is the German national statistics office. Hence, these factors are expected to restrain the department stores market in Germany during the forecast period.
The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth. For details analysis BUY FULL REPORT.
|
Department Stores Market In Germany Scope |
|
|
Report Coverage |
Details |
|
Page number |
129 |
|
Base year |
2022 |
|
Historic period |
2018 - 2022 |
|
Forecast period |
2023-2027 |
|
Growth momentum & CAGR |
Accelerate at a CAGR of 4.09% |
|
Market growth 2023-2027 |
USD 1.85 billion |
|
Market structure |
Fragmented |
|
YoY growth 2022-2023(%) |
3.62 |
|
Regional analysis |
Germany |
|
Performing market contribution |
Europe at 100% |
|
Key countries |
Germany |
|
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
|
Key companies profiled |
Aldi Group, ausberlin, C and A Mode GmbH and Co KG, Claims Conference, East Side Mall, elbstolz, Engelhorn, Fast Retailing Co. Ltd., Fenwick, GALERIA Karstadt Kaufhof GmbH, Harrods Ltd., Kaufhaus Ahrens GmbH and Co. KG, Ludwig Beck am Rathauseck Txtlhs FldmrAG, Manufactum GmbH, Marks and Spencer Plc, Modehaus Garhammer GmbH, Muller Handels GmbH and Co. KG, SCHMIDT ARKADEN GmbH and Co. KG, The KaDeWe Group GmbH, and Werbeverein Schadow Arkaden eV |
|
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period |
|
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Product
7 Market Segmentation by Type
8 Customer Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
Certified ISO 9001 : 2015
We are ISO 9001:2015 recognized that ensures quality services and product delivery to our clients.
We are GDPR and CCPA compliant! Your transaction & personal information is protected from unauthorized use.
Get lifetime access to our
Technavio Insights
Get the report (PDF) sent to your email within minutes.
