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4w ago

German Holiday Shopping Starts Weak as Consumer Mood Slips to Year Low

HDE cites a shift to saving driven by pessimistic economic expectations.

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Die vom Handelsverband (HDE) ermittelte Konsumlaune der Verbraucher in Deutschland hat sich weiter verschlechtert. Der Index sank auf 95,24 Punkte und damit auf den niedrigsten Stand seit Jahresbeginn, wie der Verband am Montag mitteilte.

Overview

  • The HDE consumption barometer fell to 95.2 in December from 95.6 in November, based on a survey of 1,600 consumers.
  • In an HDE poll of 300 retailers, 70% reported fewer visitors year over year and more than 60% saw weak trading in the last November week.
  • HDE characterized 2025 as a "lost year" for consumer sentiment, signaling no near-term recovery in confidence.
  • Consumers are reallocating from discretionary purchases to savings as their economic outlook drops to the lowest since early 2024.
  • Despite soft footfall, the sector projects €126.2 billion in holiday revenue, up 1.5% from 2024, with toys, watches, jewelry, consumer electronics, winter apparel, sportswear, and vouchers performing well.