After subdued Christmas business so far, the Saxon retail sector is looking forward to the last few days of shopping before the festive season. According to a trend survey conducted by the Saxony Retail Association, Christmas business has so far been disappointing for the majority of Saxon retailers. Only around 25 percent of the retailers surveyed were satisfied with how things have gone so far.
"Sales and customer footfall in the retail sector have so far fallen short of expectations for most retailers," said Managing Director René Glaser. Around 70 percent of survey participants reported a decline in sales and 62 percent reported lower customer frequency compared to the same period last year.
According to the companies, customers are being particularly price-conscious and selective this year, while brand and loyalty ties are becoming increasingly less important. It is also striking that many retailers pointed to a predominantly negative mood among customers, economic uncertainty and the associated subdued purchasing behavior.
