Germany Retail Trade Sees Steady Growth in 2024

According to the 2024 results from the Federal Statistical Office (Destatis), the retail trade in Germany saw a 1.1% increase in real sales (price-adjusted) and a 2.5% rise in nominal sales in 2024 compared to the previous year. Although the real annual result is 0.2 percentage points below the earlier forecast of January 8, 2025—accounting for late registrations during the Christmas season—the retail sector still demonstrated solid growth overall.

Germany Retail Trade Sees Steady Growth in 2024

Sales performance varied throughout the year. The first half of 2024 saw a slight decline of 0.5% in real sales, but the second half showed a strong recovery, with real sales increasing by 2.6%. Compared to 2021, when retail turnover hit its highest levels since 1994, 2024 saw a 2.9% decrease in real sales, although nominal sales were 12.9% higher. Retail sales also outpaced pre-pandemic levels, with a 2.3% increase in real terms and a 22.8% increase in nominal terms compared to 2019.

The food retail trade experienced moderate growth, with real sales up by 0.7% and nominal sales rising by 2.9% in 2024. While the first half of the year saw a modest 0.5% increase in real terms, the second half saw a slight uptick to 0.8%.

On the other hand, non-food retail saw a 1.4% increase in real sales and a 2.2% increase in nominal sales. This sector experienced a 1.0% decline in real sales during the first half of 2024, followed by a strong recovery with a 3.7% growth in the second half.

In online retail, the mail order and internet trade sectors saw a robust 5.0% growth in real turnover for 2024, with a notable 11.1% surge in the second half.

During the December Christmas business, real sales were 1.8% higher than in December 2023. However, a slight decline of 1.6% in real sales was there when compared to November 2024.

For the analysis and updates, visit FXAN to stay informed on the latest news and insights. Also, follow us on Instagram.