In recent years, it wasn’t just Americans that feel the impact of economic stress when it comes close to the holidays. Since 2007, holiday budgets in Germany have been below average, but this year things seem to be slowly turning around. Accounting firm Ernst & Young has released the results from their holiday buying survey and it appears that Germans are gearing up to spend the most money since 2007 with an average budget of 230 euros. When compared to 2011, that is a 17 euro increase. Germans may plan on putting back restraints on spending once the season of giving comes to a wrap, but the urge to spend money is a good economic sign for the country.
So, what’s topping the list of top items in Germany this season? If you guessed a new pair of lederhosen, guess again. For the first time, gift cards have made their way to the number one spot as 60% of the respondents stated them as their preferred present. Books came in second place, beating out both toys and clothing (although those gift cards could be used to purchase both).
Even though most Germans who responded to the survey know what they are going to get for their friends and family, it seems they are still willing to procrastinate some. Over 50 percent stated they were going to wait until the month of December to make their holiday purchases, and 1 in 5 said they will probably wait until less than two weeks before Christmas to do their shopping.
Photo by slowburn via flickr