An initial assessment of the mood at Christmas 2023 shows a sobering picture - both in terms of demand and supply.

The current consumer climate does not bode well for spending, as the inflation crisis continues to have a firm grip on the purchasing behavior of Austrians. The purchasing budget of Austrians continues to shrink due to additional spending, especially in the area of housing (rent, energy, etc.). 44% of consumers are currently planning to spend less on Christmas gifts than in the previous year (50% the same and only 6% more).

Expectations in the retail sector for the 2023 Christmas season are also subdued. In addition to consumers' reluctance to spend, rising costs are also weighing on the retail sector.

But it's not the end of the day yet, because the Christmas business has proven to be surprisingly resistant to the crisis in recent years, despite the Corona pandemic and the inflation crisis. Nevertheless, retailers could find themselves in a business dilemma this year, with falling sales volumes and rising costs eating into profits.