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- Sep 7, 2018
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- 161
GERMANY
GENERAL INFORMATION
- The country remains the largest economy in Europe with 21% of contribution to the European GDP. In 2018, GDP per capita reached 48,195$. Average salary is about 4,651 euros;
- After several years of real GDP growth averaging over 2 percent annually, Germany’s economy has seen a steady GDP growth over 2% during the past several years. However, today we observe a slowdown in GDP growth of 0.7% in the first quarter of 2019;
- Germany is divided into 16 states. The largest cities are Berlin, Hamburg, Munich, Cologne, and Frankfurt am Main;
- The official language is German.
CONSUMER BEHAVIOR
Gen Z makes up 3.2% of the workforce in Germany, followed by Baby Boomers (17,7%), Millennials (39%) and Gen X (40,1%).
Let’s start with Millenials. 70% of them are highly concerned with security and stability. Thus, it would be illogical to promote risky BSFI products or make them fill out the credit card details on the landing page. However, they tend to be riskier compared to previous generations. Statistics also prove that the interest in Shopping and Lifestyle decreases over the years. Finally, German Millenials tend
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