Value fashion giant Primark has high hopes for the German market as it opens its first store in Berlin.
The retailer has previously told brokers that it could open 150 stores in the country. Primark is not alone in targeting the German consumer. Debenhams chose the country to launch its first foreign language website this week. Retail Week looks at the country’s vital retail statistics:
- Population: 81.6 million
- Economy: Despite the fact that it was overtaken by China as the world’s third largest economy, GDP grew 3.1% to €2,570bn (£2033bn) in 2011. It experienced a severe recession in 2009 with GDP contracted 5.1% but it had a strong bounce back in 2010.
- Retail sales: The Germany retail market is the biggest in Europe. Sales jumped £12bn to £359bn in 2011 with food sales accounting for £146bn of the total. Consumers are expected to spend £383bn by 2016.
- Major retailers: Grocers Edeka, Rewe and Metro are the largest retailers in the country. In fashion, C&A and value chain New Yorker are the major players whilst Kardstadt is the dominant department store. In DIY, 340 store Obi is the market leader.