ifo Institute: Bicycle Retailers Emerging from the Coronavirus Crisis as the Winners in Germany
German bicycle retailers are among the biggest winners of the coronavirus crisis, according to the ifo Business Survey. Almost all bicycle retailers are satisfied with their current business situation, with their assessments at 95 points out of a possible 100. “Bicycle retailers are experiencing a genuine boom,” says Klaus Wohlrabe, Head of Surveys at ifo.
Other sectors currently seeing particularly good results are construction materials and DIY (83.1 points), food and beverages (62.8 points), furniture and equipment stores (40.7 points), consumer electronics retailers (29.7 points), and computer retailers (33.3 points).
“On the other hand, the situation looks gloomy for clothing retailers of all kinds (including shoes) and for shops selling leather goods and bags,” Wohlrabe says. Their figures are minus 60.9 points and minus 85.0 points, respectively. “Things were really bad at car dealerships before, and they too are now emerging from the coronavirus ‘valley’ rather slowly,” Wohlrabe adds. The value there is minus 37.0 points.
