Despite recording a positive performance in 2024, value sales of luxury goods in Germany experienced a further slowdown in growth compared to the previous year, driven by ongoing economic instability, although inflation in the country marginally eased. This impacted a number of luxury categories including fine wines/champagne and spirits, with luxury whiskies experiencing the highest value growth, while champagne experienced pressure from the rise of crémant (French sparkling wine), which has presented new challenges.
Lingering economic uncertainty in 2024 encouraged many consumers in the local market to become more conservative with their spending, but there was still a preference for luxury experiences rather than material goods, supporting sales of luxury hotels, although a further rise in inbound arrivals mainly supported this performance. Therefore, the most dynamic category within luxury goods in 2024 was experiential luxury.
Due to their higher value, premium and luxury cars continued to hold the highest share of luxury goods in the German market, with Daimler AG, Volkswagen AG and Bayerische Motoren Werke AG leading overall in 2023. On the other hand, Althoff Hotels retained its lead of experiential luxury due to its strength in luxury hotels.
Despite an ongoing strong preference for shopping for luxury goods in physical stores, where expert in-store sales assistants can provide the most personalised and attentive care to consumers, retail e-commerce has been growing steadily and is expected to gain further momentum over the forecast period. Luxury brands are increasingly using generative AI to offer more personalised experiences to consumers, and are continuing to accelerate their digital initiatives, embracing retail e-commerce and social media marketing to engage with consumers and drive sales.
Consumers of luxury goods in Germany are expected to demand greater personalisation in the coming years, with customisation becoming increasingly important to luxury shoppers who are looking for exclusivity and limited editions.
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Understand the latest market trends and future growth opportunities for the Luxury Goods industry in Germany with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
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Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
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Luxury Goods
This is an aggregation of: Personal Luxury, Fine Wines/Champagne and Spirits, Luxury Cars and Experiential Luxury.
See all of our definitionsThis report originates from Passport, our Luxury Goods research and analysis database.
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