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German Christmas Sales 2024: Cautious Outlook

Analysis of the expected Christmas sales in Germany in 2024, considering economic factors like inflation and consumer sentiment. Retailers face a mixed outlook across different sectors.

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German

Germany

EconomyGermany Labour MarketChristmasRetailConsumer

Hde (Handelsverband Deutschland)YougovAppinioR+V VersicherungIfh

Alexander Von PreenMonika SchnitzerKai Hudetz

What is the overall expectation for Christmas sales in 2024 compared to 2023?: The HDE (Handelsverband Deutschland) does not expect the 2024 Christmas business to surpass 2023's performance, predicting inflation-adjusted sales to remain at the previous year's level.
What is the outlook for Christmas sales in Germany considering the economic context?: The difference in outlook varies across sectors; some, like electronics and toys, are more optimistic, while others, like clothing and furniture, are more pessimistic about the Christmas sales.
What is the current situation for established retailers compared to online competitors?: Many established businesses are struggling, with some facing existential threats, while online retailers such as Temu are thriving. Store closures are common, highlighting the difficulties in the retail sector.
What are the average planned gift spending and the factors influencing consumer behavior?: Consumers are planning to spend an average of \u20ac297 on gifts, slightly more than last year, but many are saving more due to high prices, economic uncertainty, and war concerns.
What is the overall sentiment among retailers regarding the upcoming Christmas season, and are there any variations across sectors?: While some positive trends exist, such as slight increases in consumer sentiment, the overall outlook for Christmas sales remains cautious, with many retailers expecting restrained consumer spending.

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