Economy weighs on German retail companies

When asked about the current challenges, a majority of 56% of retail companies in Germany stated that their business is currently being affected by the economic uncertainties.

Almost one in three companies also feel explicitly unsettled by the international trade conflicts. And 26 percent state that the current demand from abroad is slowing down their own business.

These are the results of a representative survey of stationary and online wholesalers and retailers in Germany commissioned by the digital association Bitkom.

According to the survey, retailers are also concerned about domestic demand: 30 percent of retailers believe that current domestic demand is slowing down their business.

"The uncertainty surrounding Brexit and the deteriorating economy currently pose a major challenge for German trade. Added to this is the trade conflict between the USA and China, which is also affecting German companies due to their close ties to both economies"

says Bitkom President Achim Berg.

"In such a mixed situation, it is all the more important that companies put their business models to the test: Competitiveness is the top priority - and this cannot be maintained without digitalization.

Companies can use digitalization to make their products available to a wider range of customers. Especially in times of economic uncertainty, it is important to invest in the future."

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