Christmas Sales To Surpass €100bn In Germany, Says HDE
Christmas sales in Germany are expected to see year-on-year growth of 3% this year, generating more than €100 billion, according to the HDE (Handelsverband Deutschland).
The trade association has also raised the country's sales growth forecast for the year to 3.2% based on stable consumer sentiment.
The HDE expects sales worth around €102 billion in November and December of this year.
This will result in revenue growth of €3 billion compared to the same period last year, the HDE added.
Online sales are projected to generate close to €15 billion over the Christmas period, corresponding to a year-on-year increase of just under 11%.
However, the latest HDE trend survey among 250 retail companies has revealed varying expectations among retailers regarding the year-end spurt in sales.
HDE chief executive, Stefan Genth, commented, "Smaller companies are much more restrained, while larger retailers assume that the majority of businesses will do better than last year."
According to a recent survey commissioned by the HDE, consumers are likely to spend €20.5 billion on gifts this Christmas.
Consumers are likely to spend the most on food, toys, books, stationery, perfume, cosmetics, and electronics.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.