December 8 is an important shopping day, especially for Viennese. This year there is a risk of strikes if no agreement is reached at the HandelsKV. And the Christmas business is also starting quite slowly this year, and the still high inflation is still noticeable…
The Christmas activities mean an extreme increase in turnover for many retailers. Overall, things could be better. “Expenditure per capita on Christmas presents will amount to an average of 360 euros this year, nine percent lower than last year,” explains Rainer Will, director of trade associations. According to a recent survey, almost every second person wants to save on gifts for their loved ones.
“Still room for improvement”
The onset of winter with snowfall across the country recently provided an important initial impulse to buy. “During the first weekend of Advent, not only warm sweaters, coats and gloves were bought, but the Christmas children were also active. Retailers report solid sales, but there is still room for improvement,” Will is convinced.
One in four people wants to go shopping on December 8
On average, 24 percent of Austrians plan to use December 8 for shopping. An estimated 200 million euros are spent on Mary’s Day. “Purchases are concentrated in shopping destinations with high frequency, and especially in Vienna,” reports retail expert Christoph Teller, who analyzed shopping behavior. With expenditure of approximately 76 million euros, Vienna clearly leads the list of the federal states. For comparison: in Salzburg and Carinthia it is ten million euros; in Burgenland only five million euros. In Lower and Upper Austria the planned expenditure amounts to 20 million euros. But it is already clear: in terms of turnover, the holiday will not be the fifth Saturday of Advent; this also applies to Vienna, where 35 percent of citizens want to go shopping.
Strikes possible on December 8
However, shopping pleasure could decrease (see video above). The collective labor agreement negotiations for the 430,000 retail employees will continue on Thursday. “Both parties will have to move, but the Chamber of Commerce even more so,” says GPA chief negotiator Helga Fichtinger. If no agreement is reached in the fifth round, the strikes will start again during the holiday.
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.
