Purchasing power 2024
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Consumer barometer for market analysis
Once a year, we calculate the forecast purchasing power for the whole of Germany. Nexiga has calculated a considerable increase in the current purchasing power per capitapurchasing power to EUR 27,926 : EUR 2,049 more than in the previous year.s is an increase of 7,9%.
In real terms, purchasing power looks different, as this gain is largely eroded by the significant rise in prices as a result of the coronavirus and Ukraine crises. Inflation has a direct impact on the development of purchasing power and plays a decisive role in determining the real value of money in the hands of consumers.
When inflation rises, purchasing power decreases, as the same amount of money can buy fewer products or services. For example, Germans have had to accept real wage losses since 2021.
At least the good wage settlements since the beginning of the year are having an effect. Pensions are also to be adjusted again. There is compensation for the recent sharp rise in prices, which have made almost everything from energy to food more expensive. The fact that inflation is now falling again significantly and is currently forecast by the German government to be just 2.8% in 2024 gives us hope. The cost of living is another important aspect that must be taken into account when considering purchasing power.
Forecast: The wage-price spiral could lose momentum and real purchasing power will stabilize in Germany.
Commitment to successful marketing
- Campaign management Plan sites, advertising activities and sales more efficiently.
- Target group analysis Identification and localization of your target groups for precise targeting of advertising, products, prices and sales.
- New customer acquisition Targeted approach to new customers through knowledge of customers with purchasing power.
Such growth has not been recorded since the start of the millennium. After a long period of stability, the development of nominal purchasing power already experienced an upswing in 2022 (with an increase of 4.6%) and 2023 (with 3.7%). A new peak has now been reached.
Map of current purchasing power in Germany in 2024
Manage customer management more efficiently and plan locations, advertising and sales effectively. As an important indicator, knowledge of the forecast purchasing power in 2024 for the whole of Germany can be incorporated directly into the planning of marketing and sales activities and used for micro-geographical (more detailed) regional levels.
Regional distribution of purchasing power
The current analysis, which shows purchasing power in 2024 for the whole of Germany at Municipality level shows the regional distribution of purchasing power.
Purchasing power is particularly high in and around the major cities. The municipalities with the highest purchasing power extend in a crescent shape through the west of Germany, from Hamburg to Hanover and the Rhine region with Düsseldorf, the Rhine-Main area around Frankfurt, the Stuttgart region and the Munich area. The municipalities with the highest purchasing power again include Grünwald near Munich (comparative index 247.9), Wohltorf near Hamburg (208.1) and Königstein im Taunus (190.7). Residents there have around twice as much purchasing power as the national average.
The "poorest" municipalities include Zittau in Saxony (83.6), Wolgast in Mecklenburg-Western Pomerania (84.5) and Prenzlau in Brandenburg (85.6), all of which are located in the new federal states. However, municipalities in western Germany are also included in this group with low purchasing power. These include cities such as Giessen in Hesse (81.5) and Germersheim in Rhineland-Palatinate (84.4). Trier (85.6) and Bremerhaven (85.8) are also among the cities with low purchasing power.
The east-west difference remains stable
There is still a difference between the West, which has greater purchasing power, and the East. After the municipalities in eastern Germany have caught up year on year, the difference in purchasing power will remain stable in 2024.
As in the previous year, the purchasing power index in the East excluding Berlin is 91.6, which is 8.4% below the national average. So far, effects such as the multiple increase in the minimum wage, which has had a greater impact in the East than in the West, and the pension equalization completed by 2023 have contributed to a gradual reduction in the purchasing power gap.
