Retail experts certain
Cash registers will be ringing at Christmas markets this year
The smell of punch and bratwurst, twinkling fairy lights draw attention to the stalls and rides - Christmas markets are a must in the weeks leading up to December 24th. And: according to forecasts by the Institute for Retail, Sales and Marketing at the Johannes Kepler University in Linz, the tills will be ringing again this year.
Retailers are complaining about the slowdown in consumer sentiment and competition from online stores and low-cost providers from China. Many stationary stores in the city centers are empty because it is difficult to find successors... However, this crisis is unlikely to be felt at the Christmas markets this year!
330 million euros turnover expected
"Despite the difficult economic situation and the continued lack of a consumer recovery, we are expecting a positive Christmas market season. Turnover at traditional markets in the run-up to Christmas will rise to EUR 330 million this year, exceeding the pre-crisis level for the first time," says Ernst Gittenberger from the Institute for Retail, Sales and Marketing at Johannes Kepler University in Linz.
In 2019, traditional Christmas markets in Austria generated gross sales of around 320 million euros, while in 2020 they slumped to 140 million euros due to the measures taken during the Covid pandemic. Since then, things have picked up again: in 2021, the markets generated sales of EUR 160 million, in 2022 the figure was EUR 310 million and in the previous year EUR 320 million.
Businesses in the surrounding area also benefit
Retailers also benefit in the vicinity of punch stalls and the like. The reason: they increase footfall, ensure that people stay longer in the city centers and also increase the willingness to spend money, explains Christoph Teller from the JKU.
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