Particularly hard-hit are clothing retailers who reported a decrease in customer foot traffic in the third quarter of the year, affecting 73.7 per cent of such businesses. Overall, more than half of the retailers, 53.8 per cent to be precise, noted that demand was too low in the third quarter, an increase from 45.4 per cent in the previous quarter.
The sector also continues to grapple with a persistent shortage of skilled workers, now troubling 38.5 per cent of retailers, marking a slight increase from 35.4 per cent in the second quarter, as per ifo.
“For many retailers, acute personnel problems have become chronic. This means that finding successful strategies for attracting and keeping skilled workers is becoming increasingly important to those companies,” said ifo expert Patrick Hoppner.
ALCHEMPro News Desk (DP)
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