German retailers apparently had to cope with another setback in the week before the third Advent. Many retail companies had registered “the weakest sales in the run-up to Christmas to date,” said the German Trade Association (HDE) on Sunday, citing the results of a current survey of around 300 companies.
“It wasn’t a good week for most retail companies,” summed up HDE managing director Stefan Genth in a statement. “Customer numbers and sales were below the previous year for the majority of retailers. This meant that the Christmas business took a breather in many places.”
Retail companies’ satisfaction with the ongoing Christmas business continues to decline
Retailers in city centers and commercial areas in particular registered lower frequencies than in the corresponding week of the previous year. Categories that usually benefit particularly from the search for gifts were also affected. “Even among retailers from sectors with traditionally high sales shares in the Christmas business, such as toys, books and electronics, only 20 percent of the companies surveyed were satisfied with the sales development in the last week,” explained the HDE. The previous weeks had already been disappointing for the clothing and shoe trade.
The mood in the retail sector deteriorated further. “Overall, one in six respondents sees the Christmas business so far as positive,” explained the association. A week ago it was a quarter. Genth is now counting on a revival in demand in the remaining sales days before the festival. “Retailers are now hoping for a strong final spurt,” he emphasized. “Experience shows that the last days before Christmas are among the strongest sales of the year.”