In Germany the retail sector expects sales to fall due to the energy crisis and high inflation. As Stefan Genth, General Manager of the German Retail Association (HDE), told “Bild am Sonntag”, consumers are holding back on consumption in the current energy crisis.
Retailers are clearly feeling the effects of this reluctance to buy. Genth described the announced relief measures as a “little ray of hope”. “But the time is running out. Especially with the planned electricity and gas price brake, we have to move forward quickly and with concrete statements,” said the HDE boss.
According to the general manager of the Dehoga hotel and restaurant association, Ingrid Hartges, the hotel and restaurant association is also concerned. Hartges told the newspaper that the price increases for food, energy and staff have not yet fully reached customers. Most hotels and restaurants only partially pass on the exorbitant cost increases to their guests,” says the Dehoga managing director. It is clear that the companies cannot hold out without slipping into the red themselves.
Germans’ reluctance to buy is also reflected in the survey commissioned by “Bild am Sonntag” by the opinion research institute Insa broader: Almost every second (46 percent) of the more than a thousand respondents wants to save at Christmas, 79 percent of them on gifts. More than one in three (36 percent) is afraid that they will no longer be able to pay their bills in winter.
Aldi Nord shortens opening hours
In mid-October, the discounter Aldi Nord announced that it would close several of its branches earlier in the winter . The company announced that the opening hours of “numerous markets” would be adjusted. From November, these markets would close at 8 p.m., it said. The measure, which is intended to make a contribution to saving energy, initially applies to the winter season 2022/2023. So far, many Aldi Nord stores are in large cities such as Hanover or Hamburg open until 9 p.m..
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