Retail trade - Retail association: Christmas business is finally gaining momentum
According to a survey by the Baden-Württemberg Retail Association (HBW), Christmas business picked up speed on the third weekend of Advent. "Christmas business has finally started", the association announced on Sunday following a survey of around 200 retailers. The third Saturday of Advent was the best yet. Retailers had not been satisfied with business after the first weeks of Advent.
According to the survey, sales on the third Saturday in Advent grew by a whopping 63 percent compared to the previous week. The increase compared to the first Advent was even almost 70 percent. An increase in sales was also recorded compared to the third Advent in the previous year.
"It seems to confirm that people are buying their Christmas presents later and later," said Sabine Hagmann, Managing Director of HBW. The trend reversal is important for the beleaguered retailers.
According to the association, retailers remain optimistic about the remaining Christmas period. Around 40 percent of those surveyed expect sales to increase in the coming weeks. "We are now looking forward to the final spurt until Christmas Eve," said Hagmann. According to the trade association, the fourth Saturday in Advent will top the third. Christmas Eve falls on a Sunday this year, and many people will be buying presents at the very last minute.
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Source: www.stern.de
