In its balance sheet for the third week of Advent, the German Retail Association (HDE) highlighted encouraging signals for the industry. “After the second Saturday in Advent gave reason for hope, the positive trend continued for many retail companies in the past week,” explained HDE CEO Stefan Genth in a statement published on Sunday. He referred to the results of a current survey by the association among “around 400 dealers from all sectors, locations and size classes”.
In the third week of Advent, the mood also increases in the clothing trade
Last Saturday was “according to the first reports the strongest in this Christmas business”, emphasized the HDE. Only around thirty percent of the trading companies surveyed were not satisfied with the business. According to the industry organization, the most recent winners included larger companies in particular. Of these, 43 percent reported “good business development” in the survey, the association explained.
The mood in the clothing trade also brightened somewhat: 40 percent of the companies surveyed from this category were satisfied with their business in the past week. “The low temperatures should also play a role here, most people buy winter clothing based on their needs,” explains the HDE.
HDE General Manager Genth sees “still great hopes for the final sprint”
Managing Director Genth gave the industry courage for the remaining weeks before the festival in view of the latest rays of hope. “More than a quarter of retailers are satisfied with the course of business so far. However, looking at the remaining days until Christmas remains exciting, because most retail companies cannot yet draw a positive interim balance. There are still high hopes for the final sprint,” he explained.
As early as mid-November, the association had forecast mixed Christmas business for German retailers in view of the difficult general conditions. Accordingly, the industry can expect sales totaling 120.3 billion euros in November and December. Nominally, revenues would increase by 5.4 percent compared to the same period of the previous year, but in real terms – i.e. adjusted for the effects of price developments – they would decrease by 4.0 percent.