German retailers enjoyed blockbuster sales revenue in 2015, and the national trade association predicts further growth of 2 percent this year.
The assessment from the German Retail Federation (HDE) comes as the retail sector is transitioning. Online shops are eating into brick-and-mortar stores’ market share, it says.
Meanwhile, retailers increasingly are looking to locate new outlets in downtown areas, according to the EHI Retail Institute in Cologne.
Germans appear to be in a spending mood. In 2015, German shoppers bought more furniture, bicycles, electronic and other retail items than at any time during the last 20 years, the HDE announced last week in Berlin. The association’s report confirmed initial estimates made by the Federal Statistical Office in Wiesbaden.