• Germany's news in English
 

Shopkeepers worry about Christmas profits

Published: 19 Sep 2012 07:24 GMT+02:00

Fears are growing in the German retail industry that economic concerns and high energy prices could reduce the buying power of the German shoppers.

"The mood in the German retail market has cooled off," said the German Trade Association (HDE) Managing Director Stefan Genth, summing up the results of the association's survey of 1,300 shopkeepers.

It is not just the uncertainty over the euro crisis that's got the retail industry worried, he added. The rising energy prices also a big concern to the industry.

The high cost of electricity, heating oil and gasoline limit the purchasing budget of the buyer while creating creating higher operating costs for shops and negatively affecting the retail industry's bottom line.

And because competition is tough, many companies aren't able to fully pass on the increased costs to their customers, said Genth. Almost half of the companies interviewed for the survey complained about reduced profits in the first half of the year.

But the association's mood may be worse than the actual situation.

"The economic concerns seem to be currently larger than the actual economic risks," said Genth, adding that the country's low unemployment was a good basis for flourishing business in the coming months.

The German Trade Association anticipates a strong holiday shopping season, despite the economic downturn, he said.

The Local/sh

The Local (news@thelocal.de)

Your comments about this article

08:54 September 19, 2012 by Berlin fuer alles
In the name of austerity and preserving the Euro for big business I declare Christmas cancelled. Ooops. can't have that either that would also affect the wealthy businesses. What to do then? Maybe we should all pay more and borrow more and keep spending what we ain't got. But wouldn't that lead to another banking crisis? One giant merry-go-round. As much as the top 1% might hate the idea, they are in this with the rest of us and need to pay more themselves so as we can have more to spend more. Greedy pigs.
02:42 September 20, 2012 by BorninDachau
I find it amazing that the 1% nonsense has also spread to Germany. The takers, the envious, the flat out lazy also want to blame someone else for their shortcomings. They want on the so called "Giant merry-go-round" but, only if someone else pays for their ticket.
Today's headlines
Treason charges against Netzpolitik dropped
Netzpolitik published documents outlining the internal spy agency BfV's spy programmes and budget. Photo: DPA

Treason charges against Netzpolitik dropped

Update: Federal prosecutors announced on Friday they are dropping charges of treason against 'digital rights' website Netzpolitik for 'the greater good' of upholding freedom of the press. READ  

Newborn baby found in Munich airport toilets
Munich Airport. Photo: DPA

Newborn baby found in Munich airport toilets

A newborn baby was found in a toilet in Munich airport on Thursday. Police so far have no clue as to who or where the mother is. READ  

Brit arrested in Munich for meth smuggling
Photo: BVZ/Zoll

Brit arrested in Munich for meth smuggling

A 50-year-old British woman is being held in custody in Munich on suspicion of attempting to smuggle two kilos of crystal meth out of Munich airport disguised as sweets. READ  

Start-up helps new Berliners slash red tape
Hate waiting in line at the B├╝rgeramt? There's a company that lets you pay to get the perfect appointment. Photo: DPA.

Start-up helps new Berliners slash red tape

Why waste time jumping through the hoops of German bureaucracy when you can pay someone else to take the hassle off your hands? A new Berlin company is offering to do just that - and it's got city officials fuming in the process. READ  

Michael Jackson shrine may have to beat it
A fan visits the makeshift Michael Jackson memorial in Munich. Photo: DPA.

Michael Jackson shrine may have to beat it

A memorial set up in Germany by some of Michael Jackson's most ardent fans the day after his sudden 2009 death has come under threat in a strangely emotional turf war. READ  

Ai Weiwei in Germany as UK slammed over visa
Chinese artist and dissident Ai Weiwei arrived at Munich airport on Thursday, greeted by his son and son's mother, filmmaker Wang Fen. Photo: DPA.

Ai Weiwei in Germany as UK slammed over visa

Chinese dissident artist Ai Weiwei arrived in Munich on Thursday on his first overseas trip since he was arrested nearly four years ago, after Britain denied him a six-month visa because he did not declare a supposed "criminal conviction" on his application. READ  

'Women-only' parking: sensible or sexist?
Regulations for women's parking spaces differ from state to state across Germany. Photo: JG-NF / Wikimedia Commons.

'Women-only' parking: sensible or sexist?

Frankfurt Airport is one of many places in Germany to offer women their own 'bigger and nicer' parking areas. Is this sensible practice or plain sexist? READ  

German offshore wind power breaks records
Turbines at the Norsee Ost farm in the North Sea. Photo: DPA

German offshore wind power breaks records

The amount of new offshore wind energy put on the grid in Germany in the first six months of 2015 has broken all previous annual records for Europe combined, a report released on Thursday shows. READ  

Unemployment hovers at historic low
A construction worker in Berlin. Photo: DPA.

Unemployment hovers at historic low

German unemployment stayed at 6.4 percent in July, the lowest level since reunification almost a quarter century ago, despite an unexpected rise of 9,000 jobless, the federal labour office said on Thursday. READ  

Lifted by cheap fuel, Lufthansa triples profit
Photo: DPA

Lifted by cheap fuel, Lufthansa triples profit

German airline Lufthansa, still reeling from the crash of one of its Germanwings planes in March over the French Alps, said on Thursday it tripled net profit in the second quarter, helped by cheap fuel. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Politics
Satire and reality blur in parody party's strife
National
13-year-old boy detained for trying to join Isis
Culture
Berlin restaurant serves up Greek Crisis Menu
Rhineland
Doctor on trial after woman wakes in morgue
Society
Six odd things Germans do in the summer
Sponsored Article
Outsourcing drives Apreel's Europe growth
Society
Police bust kinky Bavarian couple over painful love-making
Politics
Merkel brings Palestinian girl to tears
Hamburg
Amateur archaeologist finds Nazi gold hoard
National
Could Merkel learn a lesson in love from this doppelganger?
Travel
Why you should stay in Germany for the summer holidays
Sport
German press tell Schweinsteiger 'good riddance'
National
Hamburg gets a bouncing 100kg baby girl
Society
In North Germany, money sometimes DOES grow on trees
National
Hero mechanics stop Bavaria shooting spree
International
Denmark says that border controls are coming
National
Did hackers take control of German missile battery?
Politics
Munich gives gay pride green light
Business & Money
Berlin rent controls hit prices hard
National
Fighting to breastfeed in public without shame
Society
Ice cream for dogs 'gobbled up in one gulp'
Education
Are hotpants a feminist issue?
Rhineland
Lion cub reunited with mother
National
How the heatwave is cracking Germany's Autobahns
International
Why the French are more sympathetic to Greece than the Germans
Sponsored Article
Crans-Montana: International expat hub
Gallery
Police seize pensioner's WW2 heavy weapons haul
National
How to survive the Europe-wide heatwave
Sport
Is Schweini already out of the door at Bayern?
Politics
How German media shaped the Greece crisis
National
Car assembly robot crushes worker at Volkswagen
Rhineland
Weathermen red-faced over heatwave snow warning
Society
An eye for an eye? Mum protects child in playground with pepperspray
National
As it happened: Queen Elizabeth's final day in Germany
National
As it happened: Queen Elizabeth's second day in Germany
National
Queen Elizabeth II's first day in Germany - as it happened
National
Bus passengers tell fake racists where to get off
Politics
What's really in the Queen's handbag?
National
Germans say USA doesn't respect freedom
National
Yes, you CAN buy adult e-books before 10pm in Germany
VIDEO: Watch a 93-metre turbine crash to earth in slow motion
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

7,225
jobs available
Toytown Germany
Germany's English-speaking crowd