Germany’s retailers are struggling with consumers’ reluctance to buy in view of high inflation. Thanks to price increases, sales in August of the current year increased nominally compared to the previous month (plus 0.1 percent) and compared to the same month last year (plus 5.4 percent), as the Federal Statistical Office has calculated. Adjusted for price increases (real), however, according to the Wiesbaden authorities on Friday, revenues in the industry fell by 1.3 percent from July to August 2022. Compared to August of the previous year, there was even a real minus of 4.3 percent.
According to the information, the level of sales in the food trade fell to its lowest level since January 2017. Compared to the previous month, there was a real drop in sales of 1.7 percent in this area, compared to August 2021 sales fell by 3.1 percent. There were also real declines in sales in the trade in textiles and shoes, in household appliances and building supplies, as well as in internet and mail order business. Many people have significant reserves because they were not able to travel or shop as much during the corona pandemic. But the recent extremely high prices for energy, for example, are slowing down consumption.
Gas stations were the outliers in August: In the last month of the tank discount, many drivers took the opportunity to fill up their supplies. This gave gas stations a record increase in sales: in August 2022, real sales at gas stations rose by 14 percent compared to the previous month and by 12.6 percent compared to the same month last year. According to the Federal Office, this is the largest increase in sales from both perspectives since the start of the time series in 1994. (dpa)