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Retail: A little more momentum in the Christmas business

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The retail trade is hoping for good sales, but things aren’t really running smoothly yet: there’s still room for improvement in the Christmas business.

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The Christmas retail business picked up a bit in the week leading up to the second Advent, but is still not going as hoped. According to a survey by the German Retail Association, 40 percent of retailers are dissatisfied with the sales trend. In the week before the first Advent, this was true for a good half.

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According to a statement, HDE Managing Director Stefan Genth said there was a little more momentum in the Christmas business. However, the number of customers mostly fell short of expectations. Compared to the rest of the industry, things went above average, especially for larger trading companies.

“Looking at the past two weeks, there is still room for improvement for this year’s Christmas business,” said Genth. “Customers are still clearly cautious on the move, the general uncertain situation with high energy prices is still dampening the mood considerably.”

According to this, two thirds of the dealers reported a drop in visitor numbers compared to the previous year. According to the HDE survey, only every fifth company is satisfied with the Christmas business so far. The assessment for the coming weeks is also cautious: half of those surveyed are pessimistic about further developments.

For the Christmas business in November and December, the association expects total retail sales of a good 120 billion euros. Compared to the previous year, that would be a real minus of four percent.

Source: Stern

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