The Thrifty Germans Began To Be Interested In Luxury Goods.

Frugality, together with seriousness, preciseness, discipline and law, constitutes " A German The typical label. For many years, the frugality of the Germans is known all over the world as "made in Germany". Hard work, frugality, love saving, allowing the Germans to ride through the previous financial crisis and play a savior role in the European debt crisis. But Germany's frugality has also led to many criticisms. From the national level, the consumption policy to the high savings rate of the German people is said to be the cause of the debt crisis. The British economist once wrote that it is not easy for German to pay their money. In order to save several euros, the Germans will give up better services and more choices. The market share of cheap supermarkets in Germany is 45%, while that of similar supermarkets in the UK is only 17%.

But things are not static. In the past two years, German consumption began to be thrifty and extravagant. Thrifty is the glory of virtue, and the luxury market in Germany is rising quietly. The German Business Daily quoted Roland Begg consulting company's research report data as saying that in 2011, the luxury market in Germany increased by 16% over the previous year, reaching 12 billion 900 million euros. Among them, the market growth rate of watches, jewellery and bags reached 20%, and the market growth rate of luxury cars was 19%. The German luxury market is growing faster than other European countries and has great potential for development. Research shows that compared with the United States, Italy, France and Japan, Germany Luxury goods The proportion of consumption in gross national product is obviously low. If the average level of these countries reached 0.6%, the German luxury market could double.

Why do thrifty Germans start moving to luxury goods? Statistics show that in 2009, the luxury market in Germany had reached 10 billion euros. Because of the strong performance of the German economy in recent years, the German people's assets are relatively good. Germans have relatively conservative financial management concepts. They only prefer savings and relatively guaranteed bonds, and the proportion of funds invested in stocks is very small. The financial crisis and the European debt crisis made the Germans lose confidence in banks. Some people, especially the middle class, began to turn their attention to luxury goods with investment value, mainly automobiles, artworks and clocks. Rather than Germans are beginning to love luxury goods, Germans are starting to focus on new investment products. Therefore, generally speaking, the luxury brands that Germans prefer to emphasize technology and quality, and the factors of popularity and appearance are relatively less important. In the German luxury list, the top German watches and brands are Langer, Maybach, Porsche and glascu.

Luxury companies are also looking forward to Germany, which sees Germany as a growth and valuable market. Over the past five years, various luxury stores in Germany have increased by 30%. At the same time, the loosely developed local luxury goods industry in Germany became more professional and began to organize industry associations to carry out activities outside the industry for the benefit of the industry.

What's interesting is that perhaps to cater for the German consumption shift, the famous German chain supermarket, the other low-grade supermarket, has recently changed its business strategy and started introducing brand products. In the past few years, one of the secrets of the success of a chain store at a low price is not to enter famous brand products. Now, the "poor shop" has started running brand names, the Germans. Consumption concept It really changed.