Germany: Spending on Christmas Gifts Declines
In Germany, traders are very disappointed with the sales during the Christmas period. In Italy, 36% of consumers said that “they have decided to drastically cut their gift budget this year”
German traders are extremely disappointed with the sales trend over the Christmas period. According to the media, “Christmas sales have not been a success for German retailers.” The mood is negative due to wars in the world and political uncertainty in Germany. People preferred to save their money. “As a result, the Christmas sales have been a disaster for many retailers,” said Alexander von Preen, president of the German Retail Association (HDE).
Even Italy has suffered a significant reduction in Christmas gift budgets. According to opinion polls, 36% of Italians surveyed across the country said they had “decided this year to drastically reduce their gift budget compared to 2023,” while only 13% said they “would like to increase spending.”
This year in Italy, the average spending on Christmas gifts will be 207 euros compared to 230 euros last year. The highest income groups declare an average expenditure of €504, which is almost four times the average expenditure of people with lower incomes (€150). That is, at the end of 2024, Italian consumers have shown greater prudence in managing their Christmas budget, influenced by economic uncertainty and rising living costs.
