One shopping highlight follows another in November. The so-called Black Week, with Black Friday as the highlight, is seen as the start of the Christmas business with an estimated turnover of 400 million euros. The majority of people use the digital shop window on the Internet to prepare for a physical purchase, explains Rainer Will, director of the Austrian Trade Association.
Every fifth job in this country is provided by Austrian retailers. “With a purchase you also place an order and secure a job,” says Rainer Will in the live interview of krone.tv with Jana Pasching. “We obviously hope that, now that the hot phase of the Christmas business has begun, we can still use the so-called fifth of four quarters, so that as many people as possible can buy domestically.”
Hot phase of the Christmas business
In retail you see that people have put the handbrake on their spending. The savings rate is high. According to Will, we are experiencing a change in the trend towards services and we are moving away from the classic purchase of goods. “About 80 percent of people use the digital shop window on the Internet to prepare a physical purchase. This obviously means that we hope that, now that the hot phase of the Christmas business has begun, we can still use the so-called fifth of four quarters, so that as many people as possible can buy in their own country.”
The special shopping days will redefine the classic Christmas business, which by definition is always the extra sales in December. “It is tied by Asian Singles Day on November 11 and also by the US Black Friday which takes place today. 80 percent of people in our country use Cyber Monday to shop for Christmas presents.”
In the lecture, Rainer Will also points out in detail the harmful sides of cheap products from Asia. “Everything is passed on at customs, because we do not have the technical capabilities for it. As a result, we receive products in our bedrooms and living rooms that sometimes contain plasticizers that exceed the limit values by 230 times,” Will warns consumers.
You can see which specific steps are taken in the video above!
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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.
