Retail Sales Slow Ahead Of Christmas In Germany: HDE
Christmas retail sales in Germany slowed down in the days leading up to the third Advent Sunday (15 December), according to a recent HDE (Handelsverband Deutschland) survey.
Sales during the period were below the level of sales recorded in the preceding week.
The industry is now looking forward to the week before the fourth Advent Sunday (22 December), which is typically the most profitable time of the year for retailers, the HDE added.
The survey, conducted among 300 store operators across all industries, size classes and locations, revealed that the number of companies that were 'satisfied' with their sales progress decreased by 10% to 40% compared to the previous week.
More customers were headed to retail parks outside of the cities, the study found, leaving traders in the city with fewer visitors.
HDE general manager Stefan Genth noted that more than half of the retailers surveyed in the retail parks outside major cities reported good business, with larger businesses typically more satisfied than smaller ones.
In November and December, the HDE expects overall sales to increase by 3% year-on-year.
It implies that sales in the Christmas business are likely to exceed the €100 billion mark for the first time.
Online retail is projected to account for around €15 billion in sales during this period.
Consumers plan to spend more than €20 billion on gifts alone, through both online and offline channels, the study revealed.
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine.