Less sales in retail: Financial expert analyzes the current figures

Less sales in retail: Financial expert analyzes the current figures

According to a report by web.de, Last year, retailers in Germany, adjusted for prices, sold less than in the previous year. Real revenues fell 3.3 percent, which is worse than the previously forecast 3.1 percent. Nevertheless, sales are still 1.3 percent above the level of 2019 before the corona pandemic.

The statistics show that real sales in food retail fell by 3.9 percent in 2023 compared to the previous year. In contrast, grocers recorded an increase of 5.9 percent, including the sharp rise in food prices.

Online and mail order sales, which grew strongly during the corona pandemic, also recorded a real sales decline of 3.9 percent and a nominal decline of 0.4 percent in 2023. The retail trade in textiles, clothing, shoes and leather goods, however, recorded a recovery and generated 2.6 percent more than in the previous year.

The increased inflation value reduces the purchasing power of consumers, which means they can now buy less for the same amount. As a result, many people reduced their consumer spending last year.

These developments reflect increasing financial burdens on consumers, which could have long-term implications for retail and financial markets. Increased inflation and the resulting reduction in purchasing power could further increase pressure on consumers and influence consumer behavior and retail sales. Companies must adapt to these changing conditions and adapt their strategies accordingly in order to remain competitive.