According to initial estimates, Christmas activity in Austria got off to a strong start during the first weekend of Advent. Now there is hope for a “sustainable recovery”.
“The first Advent weekend of 2024 in Austria was characterized by a mix of traditional Christmas magic and intensive shopping,” emphasizes the trade association (HV). “Many cities and regions report well-attended Christmas markets, such as the Salzburger Christkindlmarkt or the Advent markets in Vienna and Linz.”
Lines of people
For example, on Saturday afternoon during the ‘Advent Magic’ event at the Military Historical Museum in Vienna, queues formed at the entrance, visitors reported. According to HV, market visits are often combined with strolling in shopping streets and centers.
The first Saturday of Advent is traditionally one of the most important days of the trading year. Mood plays a major role in potential customers’ willingness to spend money. “Some retailers and shopping centers recorded up to 40 percent more customer frequency compared to the previous year,” says HV Managing Director Rainer Will.
“Looking optimistically at this year’s Christmas activities”
According to the information, there was a strong demand for technology, books, toys and perfumes. Fashion stores were ‘full’ and food was also available. Given the general reluctance to buy, the sector is now hoping for a “sustained rebound” in the Advent season, the AVA said. “We are optimistic about this year’s Christmas activities,” says SES boss Christoph Andexlinger.
On Saturday, a broadcast in Carinthia showed that the managers of the three larger shopping centers there were very satisfied. In the city arcades of Klagenfurt, the occupancy rate on the first Advent shopping Saturday exceeded that of the previous year by almost a fifth (18 percent). Expectations were also exceeded in Burgenland, according to Designer Outlet Parndorf.
KV negotiations stall, first protests
However, it is not all idle bliss in domestic commerce. The trade association continually points to high bankruptcy rates and excessive costs. At the same time, the sector’s collective bargaining stalled and the first protests broke out. Negotiations will continue on Tuesday.
Workers’ representatives recently lowered their demand for higher retail wages to 3.9 percent. Employers offer a two-year contract with an initial 3.1 percent and a year later half a percent above inflation – but only if the relevant inflation is below two percent.
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.
