The retail sector is estimated to grow at a CAGR of more than 2% over the next five years, according to a new study on ASDReports
Report description overview:
The Future of Retailing in Germany to 2018, now available on ASDReports, provides a detailed analysis of both the historic and forecast market data of retail sales of different product segments across key channels in Germany. In addition, it provides an overview of changing consumer and retail trends, the influence of various economic variables on the retail industry, innovations in retail, and an analysis of vital developments in major retail channels.
The difference:
- Determine how to account for the development of the retail trade overall and to know which channels are showing growth for which products in the coming years through detailed quantitative analysis of past and future trends.
- Provides an overview of key competitive trends across major retail channels, along with retail innovations in Germany and quantitative analysis of the trends affecting market development.
- Gain an understanding of which channels and products will be the major winners and losers over the coming years and plan accordingly, with a comprehensive coverage covering of 26 products across 12 sectors.
Report highlights:
Falling unemployment rates, household savings, and low inflation are positive indicators for both the economy and the retail industry. Electrical and electronics will be the fastest-growing product sector largely driven by growing demand for updated technology, while the online channel will be growing the fastest over the next five years.
Consumers equipped with the internet and mobile devices have become shrewd at finding value as they can hunt for the lowest prices and compare products. Consumers prefer the convenience of online shopping where they can shop 24/7. The luxury market is growing, driven by the favorable consumer demographics and a growing number of international tourists. The increasing number of single households and an aging population are forcing retailers to adapt to the new demands.
The electrical and electronics market is forecast to grow at a CAGR of over 5% by 2018, largely driven by consumers’ interest in innovative technologies and products, and increasing demand for devices such as smart phones and tablets. Similarly, growth of furniture and floor coverings is driven by increasing home construction and consumer preference to invest in secure investments, such as real estate influenced by the Euro crisis, which led to the increase in sales of home related products. A greater sense of job security and increasing disposable income helped consumers increase their overall retail spend.