Christmas business in the southwest gets off to a slow start
Despite a sluggish start, south-west retailers are cautiously optimistic about Christmas business. This is shown by a survey of the sector published by the Baden-Württemberg Retail Association (HBW) on Monday. In the period from November 17 to 24, half of the stores surveyed reported that Christmas presents had been purchased. At the same time, 70 percent of retailers noticed a general reluctance to buy among their customers. On average, sales were around twelve percent lower than in the same period last year.
According to the survey, the outlook for the entire Christmas business in 2023 is nevertheless rather positive, said HBW Managing Director Sabine Hagmann. Past years have shown that people will give their loved ones presents at Christmas - regardless of the economic situation. She also expects the trend of buying presents later and later to continue this year.
For the Christmas business as a whole, 46% of the retailers surveyed expected a slight to significant increase in sales compared to the previous year. A good 18 percent expected no change. Around 36 percent expected a deterioration.
Christmas business is particularly important for many stores in the southwest. According to the association, some sectors generate up to 40 percent of their annual turnover in the last quarter. The HBW surveyed 298 retailers for the survey. The group is therefore a representative mix of the various sub-sectors.
Despite the slow start in southwest retail trade during Christmas, many retailers remain hopeful, anticipating a positive outcome for the entire Christmas business. The optimism is reflected in the survey results, where 46% of retailers expect a sales increase compared to the previous year. Additionally, Christmas trade is crucial for several stores in the southwest, with some sectors generating up to 40% of their annual turnover during the last quarter.
Source: www.dpa.com
