Tech & Science Corona crisis: Retail collapses in the Corona crisis

13:26  29 may  2020
13:26  29 may  2020 Source:   handelsblatt.com

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Der Einzelhandel mit Nicht-Lebensmitteln brach um 14,5 Prozent ein - das ist der größte Rückgang seit Beginn der Zeitreihe 1994. © dpa Retail trade in non-food products fell by 14.5 percent - this is the largest decline since the beginning of the 1994 series.

Retail in Germany suffered a sharp drop in sales in the Corona crisis . Internet commerce was the winner of the corona crisis.

In April, price-adjusted sales decreased by 6.5 percent compared to the same month in the previous year, as the Federal Statistical Office announced on Friday based on preliminary data.

March saw sales decline by a good 5 percent - the sharpest decline since January 2007 compared to the previous month. Food, beverages and tobacco products were in demand, with sales rising by 6.2 percent.

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On the other hand, retail sales of non-food dropped by 14.5 percent - the largest decline since the beginning of the time series in 1994, according to the Wiesbaden statisticians. The loss in sales of textiles, clothing, shoes and leather goods was particularly large at more than 70 percent.

The big winner in the corona crisis was recently the Internet and mail order business with an increase in sales of more than 24 percent compared to the same month last year. As many stores were only allowed to reopen under conditions at the end of April and consumers were afraid of infections, they increasingly bought online.

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Berlin becomes more independent from abroad. If the whole world simultaneously shuts down its production, closes the borders and imposes contact restrictions, exports will inevitably decrease dramatically. In this respect, the historic slump in exports w.
Germany can count itself lucky that it was not affected even more. French exports shrank by almost 50 percent compared to the previous year, but in Germany “only” by 31 percent. The German economy is more China-oriented than the French. Since the giant empire is returning to normality earlier than Europe and the United States, business with China is already going better. But that cannot console the fact that the corona crisis is taking on monstrous proportions that can be frightening.

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