The President of the German Chamber of Commerce in Austria (DHK) and Chairman of the Supervisory Board of Volkswagen AG, Hans Dieter Pötsch, had powerful words about the current economic situation at the DHK General Meeting on October 23, 2024: “There is nothing to sugarcoat. Germany and Austria are equally fluctuating between economic stagnation and recession. It doesn’t matter whether one person or the other is doing a quarter of a percentage point better or worse – together we are at the bottom of the growth bracket in the European Union.”
At the networking evening under the motto “The future of trade”, he named four central measures to stimulate growth again: wage restraint and reduction of non-wage labor costs, reduction of bureaucracy and reduction of electricity prices “The electricity prices for companies in Germany and Austria are in some cases four times as high as in other countries with which our economy competes,” said Pötsch. Growing protectionism around the world is also a serious problem, so we must “finally seize” the offers for free trade agreements.
Vito Cecere, Ambassador of the Federal Republic of Germany to Austria, said in his welcoming remarks that the constant stress test of recent years, characterized by the pandemic, war and an impending conflagration in the Middle East, had led to “change exhaustion”. This makes it all the more important to have friends and partners you can rely on. Strategic cooperation, for example in the energy sector, could help. The need of the hour is to strengthen Europe and not weaken it, emphasized Cecere.
Keynote: Next Growth – The upcoming customer requirements for retail
The German retail expert and futurologist Theresa Schleicher from the Zukunftsinstitut Frankfurt am Main highlighted in her keynote speech “Next Growth – The coming customer requirements for retail” that retail must adapt to the greatly changed consumer habits of the last few years.
The “re-generation” – the new generation of consumers – knows that damage to agriculture caused by weather extremes makes products more expensive. In the “mature economy”, people are looking for orientation and meaning; there is a longing for a “new lightness”, which also includes trust, security and appreciation and an expanded understanding of sustainability. “Climate protection means prosperity and good prices.”
Schleicher also highlighted trends such as the qualitative improvement of brands and the importance of local experiences. She also warned against an exaggerated “cheap pop culture” that dominates consumption: More than 22 percent of all everyday goods are currently offered at reduced prices. “But the most important question is: What is the price of our future?” New trends such as playful shopping experiences (“Playful Stores”) and collaborative discovery (“Community”) are shaping retail. Chinese platforms like Temu would strongly address this aspect.
AI, competition from China and changing consumer behavior are turning the retail industry upside down
In the subsequent panel discussion moderated by Kathrin Gulnerits, Rainer Will, managing director of the Austrian trade association, criticized the unfair competition from Chinese providers, who were “de facto leaving a trail of garbage through the world subsidized by the EU” to attract the broad masses of consumers with bogus offers to bait. Markus Kuntke, trend and innovation manager at REWE International AG, pointed out that the issue of trust in retailers is becoming increasingly important, especially for the younger generation. However, within the framework of the strict EU regulations, data can also be used to meet customer needs for individualization and personalization. Werner M. Bahlsen, Executive Chairman, Bahlsen Group/Bahlsen GmbH & Co KG, emphasized in the discussion that tradition is the basis for innovation. “It’s important to stay curious,” said Bahlsen, who was honored that evening for his 60 years of membership in the DHK.
At the general meeting in the Hotel Imperial Riding School, information was given about the change in the DHK state delegation in Salzburg. Heinz Konrad, General Director of the Raiffeisenverband Salzburg eGen, takes over the chairmanship of the Salzburg state delegation. Management consultant Ernst Wunderbaldinger was awarded honorary membership for his services and his long-standing commitment to the DHK board. In addition, Kador & Partner, represented by Utz Kador, was recognized for 50 years of membership, while Bahlsen GmbH & Co. KG and Compass-Verlag GmbH were congratulated on the 60th anniversary of their membership in the DHK.