Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

German Retailers Expect Growth This Year Despite Coronavirus Crisis

Germany's HDE retail association said on Tuesday it expected nominal sales to grow by 1.5% this year despite the coronavirus pandemic, a sharp upward revision from its previous estimate for a 4% drop.

The HDE association pointed to booming online sales and the government's stimulus measures, such as a temporary VAT cut and cash handouts for parents, which it said were boosting private consumption and supporting the retail sector as a whole.

Still, it called on Berlin to help small retailers in urban areas as they were being hit especially hard by the crisis.

'Structural Transformation'

"The coronavirus crisis is accelerating the structural transformation in retailing," HDE said, adding that consumers were changing their shopping habits to the benefit of online retailers and to the disadvantage of small stores in cities.

Adjusted for price effects, HDE expects retail sales to remain stable in 2020 year-on-year.

The forecasts are based on the assumption that a second wave of coronavirus infections and another round of lockdown measures can be avoided in the second half of the year.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days