Inflation is inhibiting consumption, 14 percent of people would only buy the bare essentials, said Rainer Will, managing director of the trade association, yesterday, Friday, at a press conference in Vienna.
According to a survey by Mindtake Research, 53 percent of Austrians have reduced their spending in the past few weeks. Will fears many “non-essential trade” businesses will struggle to survive in 2022. People would spend more on housing and energy and have less budget available for consumer goods. Shopping centers and the like would suffer from the fact that many would leave their cars at home.
The consultant location + market informed about the vacancies in the 20 largest Austrian cities: The vacancy rate in 2021 was 7.4 percent. In the cities, 54,000 square meters of space were lost. The industry mix is also changing: Since 2014, the clothing industry’s share has fallen by 4.2 percentage points to 28.8 percent.
Source: Nachrichten
