People are still cautious about Christmas shopping in city centers. From a retail perspective, Christmas business did not pick up in the week before the second Advent, as the German Trade Association (HDE) announced. In a survey, a good two-thirds of retailers said they were dissatisfied with how business was going in the run-up to Christmas.
The mood is somewhat better among retailers in urban suburbs and also in individual segments, such as the retail of toys or consumer electronics. However, the commercial breakthrough has not yet occurred.
HDE Managing Director Stephan Genth is convinced that many people wanted to give their loved ones presents for Christmas this year too. “In view of the many uncertainties in the current international and economic situation, many people are looking more at money.” In addition, the stationary stores felt the effects of online competition, particularly from trading platforms from the Far East such as Temu or Shein.
The association expects a total of around 162.2 billion euros in sales for this year’s Christmas business in November and December, 1.5 percent more than last year.