Retailers hope, but:

Lack of buying mood even on discount days

(Bild: stock.adobe.com/pressmaster)

Despite the dampened consumer mood due to inflation, domestic retailers are hoping for good business during the discount days imported to Europe from the USA at the end of November, "Black Friday" and the following "Cyber Monday". However, there are signs of a decline in sales. 

According to a survey commissioned by the Austrian Federal Economic Chamber's retail division, Austrians surveyed only intend to spend EUR 195 per capita this year, compared to EUR 215 last year. Extrapolated to the population, this means a ten percent drop in turnover, from 480 million euros in the previous year to just 430 million euros this year, the WKÖ's Federal Retail Division calculated in a press release on Monday.

Trade chairman Rainer Trefelik

(Bild: APA/EVA MANHART)

"Inflation of the past anchored in people's minds"
For its chairman, Rainer Trefelik, who is currently trying to convince the union to accept a real wage loss in the collective bargaining negotiations, this is one more argument. "The price rises of the past seem to be firmly anchored in the minds of consumers: if even major campaign days with attractive discounts are unable to lift the mood to buy, this is a sign of how much pressure retailers are currently under," he writes in the press release. The survey was conducted by KMU-Forschung Austria.

Discount days tend to be a loss-making business
At the same time, with reference to a study by management consultants Kearney, Trefelik sees discount days as a loss-making business for retailers. This is because additional products are not bought on these days, but rather purchases that were planned anyway are usually made at a lower price.