Another difficult year is expected in German retail
After last year’s decline, retail sales in Germany may further decrease in real terms this year, according to the forecast published on Tuesday by the industry’s leading advocacy group.
According to the forecast of the German Trade Association (HDE), the turnover of the retail industry, which employs 3.1 million people, will rise from 631.9 billion euros last year to 644.5 billion this year, which is nominally a 2 percent increase, but in real terms – excluding the effect of inflation – 3 percentage decrease.
The drop in traditional in-store purchases, which make up the largest part of the turnover, could be even greater, 4 percent in real terms. Online retail, on the other hand, may expand again this year, its turnover may rise from 85 billion euros to 91 billion euros, which is a nominal increase of 8 percent and 4 percent in real terms.
Related news
European governments promote diets with protein alternatives
Several European countries are supporting plant-based and other alternative protein…
Read more >Burger King Germany makes plant-based meals cheaper than meat
In Germany Burger King has slashed the price of all…
Read more >Vegan Food Group acquires Germany’s TofuTown
In its largest acquisition to date, Vegan Food Group has…
Read more >Related news
Seven trends shaping in-store marketing and retail design in 2024
Smart brands know that in-store marketing and store design can…
Read more >2024 is a year of challenges for the tobacco industry and retail
Annual tobacco retail sales are expected to have increased in…
Read more >The latest issue of Trade magazine is out now!
The digital version is available with more content once again,…
Read more >