Market news
14.07.2021, 08:42

German retail sales seen up 1.5% in 2021 - HDE

Reuters reports that industry association HDE said that German retailers are expected to increase their revenues by 1.5% year-on-year in 2021, assuming no further coronavirus lockdowns hitting consumers' appetite and shutting shops.

Online sales, boosted by COVID-19 restrictions last year, are expected to rise by around 20% this year to just over 87 billion euros ($103 billion), HDE said, up from the forecast of 17%.

HDE said three quarters of retail companies in Germany reported lower revenue in the first half of the year as a measures to curb coronavirus infections non-essential closed shops in the first four months of 2021.

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