Upcoming Trade Shows in Germany for Home & Lifestyle

Germany’s home décor and lifestyle industry is marked by economic uncertainties, born out of external factors and changing consumer behaviors. As the country grapples with pandemic-induced economic pressures, retailers in the home décor sector have to adapt quickly in meeting evolving consumer demands or perish. Although the lockdowns proved to be a good time for home décor brands, consumer spending on furniture in Germany faces a test in the wake of the COVID-19 pandemic. Now that most Germans spend time and money on freshening up their homes, they are ready to direct their income towards travel and leisure. Mounting inflation and supply chain issues further compound these challenges, prompting many Germans to delay or cancel plans for major purchases. The market value of home decor is somewhat shielded by price increases, offering a degree of protection against flat growth. While total spending may stagnate, necessary expenditures such as those related to home buying, renting, or maintenance are expected to provide some buoyancy to the market. Retailers must pivot to cater to more price-sensitive consumers and address the growing demand for sustainability. This necessitates a reevaluation of existing business models and the introduction of innovative services such as furniture rental, repairs, and buy-back schemes. Key insights into consumer behavior reveal a nuanced landscape: while 45% of Germans intend to invest in higher quality items for their homes, 65% are actively seeking good value for money. This underscores the importance of offering products that strike a balance between quality and affordability. Looking ahead, the legacy of the pandemic has reaffirmed the significance of the home as a multifunctional space for work and leisure. This presents long-term potential for the home decor industry, particularly with a predicted decrease in inflation rates alleviating financial pressures on households.