German Christmas retail sales disappointing so far

As many as 62% of the around 300 businesses surveyed expressed dissatisfaction, against 23% who were positive. The survey was conducted from Friday to Sunday.

HDE chief executive Stefan Genth spoke of a continuing low level of turnover and noticeable consumer reserve. The retail sector was now hoping for a sprint ahead of Christmas Eve and additional sales in the runup to the New Year, he said.

As many as 71% of respondents said the numbers entering their outlets were down this year compared with last, whether in inner cities or suburbs. Sales had increased on the last Saturday before Christmas, particularly of toys, books and clothing, the HDE said.

Overall, just 17% expressed satisfaction with Christmas sales this year, while 66% were dissatisfied. There were hopes for a pickup after Christmas, as many potential customers are on holiday.

Gifts of money or vouchers could also lead to increased post-Christmas sales, Genth said.

For the months of November and December, the HDE is expecting total retail turnover to reach €126.2 billion ($147.7 billion), up 1.5% on the year.