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COVID-19 has shaken the country like no other crisis in the 21st century, leaving many in financial uncertainties and in the so-called Kurzarbeiter scheme – a governmental short-time work allowance as partial compensation for a loss of earnings. As a result of the outbreak, recessionary conditions and financial uncertainty loom heavily, driving a conservative mindset towards spending well into 2021. Financial stability plays an important role in Germany and consumers are likely to gravitate towards more private label products in the future, aiming ever more to find the best quality-price equation. Dubbed the ‘year of multiple crises’ due to the environmental and political shifts happening around the globe in the past six months, 2020 is likely to redefine consumers’ priorities and the importance they place on their health and ethical behaviour.

As the second wave hits Germany, entailing a second, ‘lighter’ lockdown, consumers are struggling to remain confident, becoming ever more pessimistic about what this means for the economy and society. Encouraging results from the Pfizer and BioNTech vaccine trials may boost sentiment, but even if a vaccine programme is rolled out, disruption will continue well into 2021.

Download this whitepaper to find out more on the below topics:

– Christmas will be different, but brands can help to make it special
– Retailing in the crossfire of online growth and localism
– Experiences moved in-home
– Sustainability meets hygiene concerns
– 2021: A return to normality?