German retailers face business downturn in Sept 2023: ifo Institute

However, a significant number of retailers dealing in personal and household goods have voiced concerns over cautious consumers. As a result, they rate their current business situation as unsatisfactory. This sentiment is echoed by the larger retail community, with 37.8 per cent remarking on noticeably emptier stores.

“The recent noticeable increases in incomes among many consumers should further strengthen purchasing power, and retailers stand to benefit from this, too,” said ifo expert Patrick Hoppner.

ALCHEMPro News Desk (DP)