Consumer & Retail

With over 83 m inhabitants, Germany is the largest consumer market in Europe. In addition, the German population has above-average purchasing power, which fuels the growth of the industry. The sector is also considered particularly crisis-proof, as demand for consumer goods is largely independent of the economic cycle.




Executive Summary


Carina Küffen

Current Developments

Adapted consumer behaviour drives innovation

The image of the typical consumer is changing. In the course of digitalisation, the customer increasingly demands a seamless cross-channel offer. In addition, customers often inform themselves in detail online about the subsequent purchase process. As a result, the importance of the customer experience and customer journey is increasing strongly.

Growth Rates








Customer Journey

The increasing share of online shoppers is permanently changing the touchpoints of the customer journey. Marketing measures and influences on the part of companies must be adapted.


Our Sector Transactions


Highlight Transaction

Stylebob GmbH x Fashion ID GmbH & Co. KG

Number of M&A transactions - DACH region, 2021 (as of August)


Significant Transactions

GVC Holdings X Nordic Leisure (2021)

Orkla Health X NutraQ (2021)

Future Trends

The individualisation of products and the entire customer journey is increasingly taking centre stage. It will become even more important to gain precise knowledge about one's customers to bring tailored products to market in combination with the best possible customer experience. Low barriers to market entry and low cost of capital will continue to be drivers of the high-cost pressure in the future. Consequently, companies need to continuously review their entire value chain to operate as efficiently as possible.

People & Voices

Saxenhammer has in-depth technical and industry knowledge and can draw on a broad network of industry experts who have gained many years of transaction experience.

"For companies that are in a financially strong position, have a solid digital presence and have hardly suffered any blows during the crisis, acquisitions are of particular relevance at the moment and the timing is favourable."

Carina Küffen

Managing Director

Our View

First, retail and consumer goods companies are increasingly focusing on their core businesses and strengthening their portfolios by divesting non-related businesses while acquiring suitable add-ons. As a result, M&A activity is expected to increase. Secondly, the focus is on the targeted improvement of the customer journey. Stationary retail companies are increasingly investing in e-commerce companies to build up digital know-how and a digital presence.

Sector Update

Saxenhammer professionals regularly release content on current affairs and market trends to stimulate thought and discussion. We share exciting analyses, real-time market insights, and company news with the world.