Consumer researchers expect the Christmas business in German retail to start early this year in view of full inventories and dwindling purchasing power.
"The pressure is particularly strong this year to be there in time," said the managing director of the Institute for Retail Research (IFH Cologne), Kai Hudetz, in an interview with the Reuters news agency published on Friday. "Because many retailers have general consumer restraint Full warehouses as a result of inflation and price increases."
The Chinese online retailer and Amazon competitor Alibaba, which is also active in Germany, advertised its sales campaigns in September on social media channels with lines such as "Prepare yourself now for the Christmas season".
"The Christmas business has been starting earlier and earlier for years," said Hudetz. This is being accelerated significantly, among other things, by offers and discount campaigns around Black Friday, Cyber Monday or Single's Day squatting on inventories - even if the margin suffers from such actions," said the managing director of the market research company.
Forced to deduct
Irrespective of the sharp rise in inflation, customers can still find one or two bargains.
The skyrocketing energy prices made many goods more expensive.
"On the other hand, the warehouses of many retailers are full because they expected a different course of the season," said Hudetz. The market pressure will therefore ensure that the price level for a number of products will go down - especially for existing goods, which may have been ordered before the surge in inflation. "This is forcing retailers to offer the remaining goods at a discount," said the consumer researcher.
"If you don't want the very latest and trendiest, there's bound to be a bargain or two," added the expert. However, this is likely to be seldom the case with luxury brands. "Premium segments are the most price-stable."
But in the categories below, the IFH Cologne expects that the price competition will be very intense.
Especially since demand could weaken given the high inflation, which economists say could reach double-digit values in the fall and make many customers more economical.
"In view of the difficult situation and the uncertain prospects, many consumers will consider whether major purchases are necessary now," said Hudetz. "Maybe the old television will still be enough for the World Cup. The sofa or wall unit might also hold up a bit longer."