Survey: Corona clouds German consumer mood

finance

Survey: Corona clouds German consumer mood

Association: No consumption records expected despite Christmas time

Rising numbers of corona infections cloud consumer sentiment in Germany in December, which is particularly important for retailers. This was worse than it has been in six months, as the retail association HDE announced on Monday for its monthly survey of 2,000 consumers. “Despite the Christmas season, no consumption records are expected, the propensity to buy will decline in December,” it said.

“Rather, the partial lockdown limits the options for consumption.” A part of it is shifting to online trading, but purchases remained very limited, especially in the tourism and gastronomy sectors.

According to an HDE survey of 500 companies, the days before the second Advent went a little better than the previous week. Above all, retailers from Christmas-related industries such as toys, furnishings, accessories, but also consumer electronics and food reported increasing customer numbers. Compared to the same period last year, however, there is still a significant decline in customers.

The HDE assumes that the gloomy mood will continue. The extension of the partial lockdown resolved by January 10th had not yet been recorded by the consumer survey. “The progress in the provision of vaccines is also only partly optimistic, as a widespread effect is only foreseeable in months,” said the industry association.

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