Retail trade - Handelsverband Nord: Christmas business difficult so far
Christmas sales in Hamburg, Schleswig-Holstein and Mecklenburg-Western Pomerania are difficult this year, according to the Northern Trade Association. The main reason for this is the poor consumer mood, which is characterized by inflation and uncertainty due to war and crises, said Managing Director Mareike Petersen on Friday.
Consumer sentiment brightened up in the week before the first Advent. However, more than half of the companies surveyed were still dissatisfied with their sales - particularly in the fashion and footwear sector, which has been under great pressure for some time. As in previous years, vouchers, toys, books, cosmetics and cash were popular gifts.
The week before the second Advent was then noticeably weaker in the retail sector than the first week of Advent. Customer footfall was particularly low in the city centers. There were no significant differences between the three federal states. Overall, only 15 percent of retailers surveyed by the German Retail Association were satisfied with the Christmas business up to the second week of Advent.
In Schleswig-Holstein, the Handelsverband Nord expects a nominal increase of around 1.0% in Christmas business compared to the previous year and a real (price-adjusted) decrease of around 6.0%. In Mecklenburg-Western Pomerania, nominal growth of 2.5% and a real decline of 4.5% is expected. For Hamburg, the expectation is 0.0% and around minus 7.0%. According to the figures, sales in online retail have so far remained at the previous year's level in nominal terms and around minus 4.0% in real terms.
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- Despite the challenges in the retail trade sector, many businesses are still offering heavy discounts during the Christmas season to attract customers.
- The Retail Trade Association in Hamburg reported that over two-thirds of retailers in the region are struggling with high inflation and uncertainty, affecting their Christmas business.
- In an effort to boost sales during the Christmas period, several trade associations across Germany, including Hamburg, are promoting local heavy industries and their products.
- Despite the difficult Christmas business in Mecklenburg-Vorpommern, some retailers are reporting an increase in sales of traditional German handmade gifts, providing a glimmer of hope for the region's economy.
Source: www.stern.de
