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Paketbote in Munich: Internet trade fell by 15.1 percent in the first half of the year
Photo: Sven Simon / imago images
German retailers are suffering from high inflation, the corona crisis and the war in Ukraine.
In the first half of 2022, this gave them the sharpest drop in sales in 28 years.
Adjusted for inflation (real), sales in June were 8.8 percent lower than a year earlier, according to the Federal Statistical Office.
"This is the largest decline compared to the same month last year since the beginning of the time series in 1994," it said.
In nominal terms – i.e. not price-adjusted – sales fell by only 0.8 percent.
"The difference between the nominal and real results reflects the high price increases in retail, which are having a noticeable impact on consumer confidence," the statisticians explained.
Consumers struggle with lost income
Economists predict tough times for retail to continue.
"That wasn't the last piece of bad consumer news," said the chief economist at Hauck Aufhäuser Lampe Privatbank AG, Alexander Krüger.
»Because of the miserable consumer mood, the consumer star should continue to fall from now on.
Consumers are struggling with serious real income losses.« The gas surcharge will also curtail consumer wishes this year.
"The low point in consumption is yet to come," Krüger therefore expects.
In addition, the industry expects delivery problems until 2023.
There was also a decline in sales compared to the previous month: Adjusted for inflation, revenue fell by 1.6 percent compared to May.
That comes as a surprise: economists had expected slight growth of 0.2 percent here.
Consumers spent 1.6 percent less on groceries.
"The decline is probably mainly due to the increased food prices," said the statisticians.
Trade in textiles, clothing, shoes and leather goods was unable to continue the positive trend of the year to date and was 5.4 percent lower in June than in the previous month.
Internet trade, which had boomed during the corona pandemic, was also clearly in the red.
With a decline of 15.1 percent compared to June 2021, the sharpest drop within a year since 1994 was reported.
Apr/Reuters/dpa
