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Monday, February 6, 2023

German trade complains: “Losing an enormous number of shops”

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“We are currently losing an enormous number of stores,” said Stefan Genth, general manager of the German Retail Association (HDE), this week. In 2022 alone, around 16,000 shops are likely to have closed, “a good three times as many as in a normal year,” said Genth.

There are many medium-sized retailers who run their boutiques, shoe shops, sports shops or perfumeries without a murmur. At the same time, large chains thinned out their branch networks. “You may not see that in 1A locations yet, but you can see it in the districts of large cities, and you can see it above all in small and medium-sized towns and communities,” said Genth. It looks like this trend will continue this year. The optimism among the dealers is muted.

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Source: Nachrichten

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