After the Christmas business, which is so important for retailers, was disappointing for a long time, the German Trade Association (HDE) reported a small ray of hope on Sunday.
In the week before the fourth Advent, business gained “slight momentum,” the industry organization said. As a result, more retailers have recently been satisfied with how the Christmas business has gone so far. The association referred to the results of a current survey of more than 300 retail companies.
The past week was “in many places better than the previous week”
Many of the companies surveyed reported a brightening of the previously rather dreary mood in the week before the holidays, which traditionally brings them particularly high sales.
“Shortly before the holidays, Christmas business picked up some momentum. The fourth week of Advent went better in many places than the previous week,” explained HDE Managing Director Stefan Genth in a statement. But he saw no reason for euphoria. The “big momentum” has still failed to materialize, said Genth.
After all, according to the association’s findings, “more than one in four companies surveyed were satisfied with the past week”. “Retailers in the areas of consumer electronics, toys, watches and jewelry as well as books” reported “above-average development”.
Most companies remain dissatisfied
In view of the more positive developments in recent days, the number of companies that were able to draw a positive interim assessment of the Christmas business so far has increased. A fifth of the companies surveyed are now satisfied, said the HDE. A week ago it was only a sixth. Overall, however, the mood remains depressed. “Most companies are disappointed with the course of business in the past few weeks,” emphasized the association.
The industry organization is now continuing to focus on the remaining time before the turn of the year. “The Advent weeks are usually followed by a strong year-end spurt in sales,” explained Genth. “The sales days around Christmas and between the years can give this year’s Christmas business a further boost.” Experience has shown that “Christmas gifts such as cash and vouchers” provide additional sales impulses during this time.