The months of November and December are particularly vital for many businesses. But consumer sentiment is depressed. After a week before the first Advent, the industry draws mixed conclusions.
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According to the industry association HDE, some German retailers have had a good start to their Christmas activities this year. In the week before the first Advent, the business of many retailers got off to a mixed start due to the difficult general economic conditions.
“Despite the difficult times, for many in the retail sector this was a good start to the hot phase of the Christmas business,” said Stefan Genth, CEO of HDE. “However, there is currently no coherent framework.”
Even though things were a little better than last year, especially on Saturday, the positive advancement has not yet been felt among retailers, the german Trade Association (HDE) reported, citing a survey of 276 companies.
currently, sales in the clothing sector are mostly weak
According to the study, the situation is above average for larger companies with an annual turnover of more than two million euros, as well as for retailers in city centers and suburbs. A third of the companies here are satisfied with the process.
The first week of Advent is rated positively by retailers of consumer electronics, watches and jewelry, books and toys. The food trade is also often satisfied. Though, turnover development in the clothing sector is currently still largely weak.
consumer mood rather cautious
“Many consumers are reluctant to make purchases. At the moment, real impulses for the Christmas business can only be observed sporadically,” explains Genth. Nearly two-thirds of stores reported a decrease in customer footfall compared to the previous year. As expected, consumer sentiment is still rather cautious.