Germany’s Retailers Lack Customers
Customers in Germany went shopping less frequently in the third quarter, but retailers’ supply problems have eased slightly. These are findings from an ifo Institute survey. In figures, 45.7 percent of retailers report fewer customers in their stores, while 74.9 percent were still struggling with supply bottlenecks in October (down from 76.5 percent in September). “Many retailers are worried about the upcoming Christmas season,” says Klaus Wohlrabe, Head of Surveys at ifo.
“High inflation means people with low income can afford less and are reluctant to make purchases,” Wohlrabe adds. Furniture stores were particularly hard hit, with 80 percent of them reporting less customers.
Food retailers are currently still feeling the most impact from supply bottlenecks, with 90 percent reporting problems. “Because these businesses have such a large and varied range, some products will be missing from their shelves,” Wohlrabe says. The situation is similar in DIY stores, where around 86 percent of retailers aren’t receiving all the goods they ordered. Toy retailers are also worried with regard to the Christmas business that is so important for them: 62.8 percent are currently unable to offer their full product range.
