No delivery bottlenecks and yet a consumption ladder in many stores – and that a month before Christmas. Due to the price increase, many customers still seem very reluctant to shop – the Chamber of Commerce is hoping for a Christmas miracle. A quick survey on the first Advent Saturday shows that retailers are satisfied with the number of customers, but sales are mixed. Black Friday fell short of expectations.
Given the many efforts and the high advertising pressure, the Austrian trade can look back on a mixed start to the Christmas business.
While physical retail sales on Black Friday fell short of expectations, domestic stores recorded high levels of customer traffic on the first Advent Saturday and reasonable sales in many places as well.
Supermarket, toys, electronics and cosmetics with good performance
“In a sector comparison, the trade in food, coffee, toys, electronics, cosmetics and books was particularly in demand this week. The fashion houses were also packed on Saturday. In many stores, however, more was viewed and tried than actually bought. As a result, sales in, for example, the fashion and shoe trade are below expectations,” says Rainer Will, spokesman for the Austrian trade.
The Christmas bonus should stimulate activity
Of course, retailers are feeling the effects of consumers’ reluctance to buy due to the energy crisis and high inflation. This has particular consequences for the sales figures on Black Friday. The industry therefore still hopes for a significant revival of activity in the coming weeks of Advent, especially since double salaries (“Christmas bonus”) are also paid during these days.
Viennese trade satisfied with balance
In the federal capital, people are satisfied with the results of the first Advent Saturday. “In some sectors things went better, in others there is still room for improvement,” says Margarete Gumprecht, president of the trade department of the Vienna Chamber of Commerce. In general, the retailers were satisfied with the customer flow in the first week of Advent. Advent calendars, perfumes, clothes and toys ended up in the shopping bags of the Viennese. “While many customers are currently having to watch their money more closely, the children and grandchildren are the last to save.”
The Viennese shop a lot in the Grätzel
Not all shopping bags are full yet: most Viennese buy their Christmas presents in the first half of December (32 percent). Gumprecht expects a further increase in frequency and turnover. The trend is towards early shopping. Only 16 percent of the Viennese population want to receive most of their gifts in the second half of December. Five out of seven gifts are bought in physical stores. The corona pandemic has changed the shopping behavior of the Viennese towards shopping in the “Grätzel”.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
