The consumer index is currently at the level of the previous spring. The index examines consumer behavior in Germany in spring and autumn.
“The savings of the Germans have grown and the German citizens expect a positive development of their income,” says Jan W. Wagner, CEO of Good Finance Bank. “In the spring, the Germans have more desire and opportunities to spend money.”
The acquisition potential increased by four percentage points compared to autumn 2015. Only 63 percent had spending potential last year and eleven percent were completely without reserves. Now, 67 percent say they have medium to high savings. A little more Germans, namely 73 percent, also expect rising revenues through higher salaries and an improved standard of living.
Majority of Germans are planning large purchases
While in the autumn of 2015, 55 percent were planning high expenditures for a car, furniture, expensive electrical appliances or a trip in the coming three months, there are currently already 60 percent. One in three Germans (33 percent) has even planned more than one major purchase in the next three months. That’s five percentage points more than half a year ago. The Good Finance industry index links the consumer index with the purchase intent and spending potential. Above all, due to the increase in purchase intentions, it therefore increases by 8.6 points to currently 98.6 points.
Purchase demand in all product groups has risen / furniture continues to rank first, biggest increase in travel
Above all, the demand for travel by Germans has increased significantly with the new year. 28 percent want to book a trip worth at least 1,250 euros in the next three months. In autumn 2015, it was only 21 percent. Also in the other product categories, the purchase intentions have increased. As in the surveys, new furniture is the first item in the planned purchases. 38 percent want to buy bed, wardrobe or sofa before summer.
In the autumn, it was only 35 percent, but a year ago 41 percent. 28 percent are currently planning to buy an electrical appliance that costs 500 euros or more. The willingness to buy a new car has increased in comparison to spring 2015. 16 percent want to buy a car, for 65 percent it must be a new car – an increase of two percentage points. More than every second car buyer, his vehicle is worth more than 12,500 euros.
Families remain the consumer motor
Especially families look positively into the financial future. 81 percent of people living in a family of at least four are among the optimists.
Even couples with one child are still significantly more optimistic with 73 percent than singles with 65 percent. The buying mood is also more pronounced among families. 79 percent of couples with two or more children want to shop. Pensioners, on the other hand, are reluctant to spend money.
Purchasing power and appetite highest in Hamburg
North Germans have the most reserves available in the national comparison. At 79 percent, Hamburgers have the greatest purchasing potential of all federal states. Schleswig-Holstein is also not bad with medium and high purchasing potential (71 percent). In the south in the Saarland and in Hesse, consumers are also doing comparatively well. Especially Bremern is missing the nest egg.
Nevertheless, they would like to shop. Here, the biggest discrepancy prevails: While 54 percent of them have hardly any savings, in Bremen, 88 percent of them live with the greatest desire for shopping. Even the hamburger with the big savings have a high propensity to buy with 74 percent.
Most people live here, who have both the desire and the possibilities for consumption. Similarly high is this value only in the Saarland. Berlin, on the other hand, has the fewest people with desire or opportunity to issue.
Financing readiness remains high
48 percent of German consumers can imagine financing a major purchase via a loan. However, the willingness to lend the entire amount decreases. Good Finance CEO Jan W. Wagner: “Given the low interest rates, many spend their money rather than save it and finance a missing contribution. Installment loans are used judiciously by the German citizens. In about 98 percent of all cases, the German disciplined pay their installments, which suggests that they can assess their financial resources very well and not take over. “