The billion-dollar Christmas business in Germany

The pre-Christmas period in Germany is not only characterized by contemplative evenings with family, mulled wine and cookie baking. Between mid-November and end-December is also the highest sales period in the entire year – most of it for gifts.

• But in which sectors does the most money flow??
• What do the Germans prefer to give away the last 100 years?
• How much money do we plan for gifts and how much do we really spend?
• What would we like to exchange immediately?

VEXCASH has delved into the depths of Christmas shopping and put together an infographic that captures the spirit of the current holiday season in terms of shopping, sales and gifts.

Every year: the billion euro Christmas business

Books, gift vouchers or the provisional sock package: Germans like to give a lot of presents at Christmas. This year, a total of 91.1 billion euros will be spent in this country during the festive season, with most of the money being invested in gifts. Per capita we spend 280 euros on gifts to loved ones. The joy of spending increases in old age, before it diminishes again in retirement age. Families also spend more on gifts at Christmas, with an average of 30 euros more per person spent on presents.

Oh you (non-)merry: Christmas annoyance boosts sales in online shopping

A trend to the question "Where to buy Christmas presents?" is becoming more and more apparent in the last few years. More than half of Germans now store online for gifts for loved ones. The reasons vary: 61 percent avoid shopping malls and supermarkets to avoid the crowds and stress. By contrast, just under a third are annoyed by Christmas decorations and music and therefore prefer to shop from home.

Savings foxes use a combination of both sales channels. Inspirations are obtained while strolling through the shopping mall, while prices are compared online afterwards. Despite the huge increase in purchases made online during the holiday season, it is almost impossible to completely avoid going to the store next door. Because most still do their last minute errands offline.

By the way: more than half of Germans look for inspiration for Christmas gifts throughout the year – yet one in ten still makes their final purchases on Christmas Eve.

Gift sales hit of the last 100 years

Despite a few evergreens, the image of the gift table under the Christmas tree has changed steadily in recent decades. If today mainly electronic devices and merchandise products are packaged, the children of the 1910s enjoyed a simple teddy bear. In the past, the prices for gifts were similarly modest. Parents have never had to spend much more than 20 euros on classics such as Monopoly, Cludeo, Barbie or a Lego starter set.

With the gaming hype and the dawn of the technology age, spending on gifts also began to rise. The box office hit of the nineties, the Game Boy, cost around 150 euros to buy. In contrast, parents had to dig a little less deep into their pockets for the other nineties sales hits such as Furby and Tamagotchi.

It finally got even more technical in the 2000s. Here the families were happy at the Bescherung especially about the Nintendo Wii or even an iPad. Accordingly, the per capita spending on Christmas gifts was also higher.

Gift recycling: After the presents is before the exchange

Not always the joy when unwrapping gifts is huge. Two thirds of Germans have already held an unwanted gift in their hands. In the majority of cases, it is the mothers and aunts who are wrong in their choice of gifts. In order not to endanger the contemplative mood under the Christmas tree, however, most of the unhappy gift recipients put a good face on the bad game. Over half thank you for the gift despite everything. Only the least openly admit to relatives and family that the new socks are not among the heart's desires.

But not all unloved gifts end their lives as dust catchers on the mantelpiece. 15 million Germans simply sell on the unwanted gifts. A quarter simply use the Christmas gifts to re-gift, saving another trip to the shopping center.

After all, a better fate than some other gifts meet: Namely, one out of ten Christmas presents goes to pieces by New Year's Eve. Even blacker it stands around so some coupon under 100 euros. Over 55 percent are never redeemed here.

About VEXCASH

The Berlin-based fintech company VEXCASH is Germany's first provider and market leader for short-term loans with a term of 30 days. In the case of credit, users receive their commitment immediately through the fully automated application process and also benefit from the instant payout function within 60 minutes. This makes VEXCASH the fastest instant loan in Germany, which can be disbursed even to customers with average creditworthiness.