The Czechs are expecting the worst Christmas in history. Soon it will burst. It’s never been this bad

We would prefer to bring better news, but in this case it is not possible. The Czechs are probably expecting the most demanding and complicated Christmas in history. We enter them significantly weakened financially, due to a situation where retail sales have been falling every month for more than a year in a row. There has never been anything like this before and it points to the fact that people are simply running out of money.

The shops are bad

Retail chains do not spare them in any way. After last year’s record price increase, prices have not fallen in any way this year, and on the contrary, they continue to grow at a rate of approximately eight percent. This will make this year’s holidays clearly the most expensive Christmas in history.

At the same time, one cannot be surprised that something that was previously unimaginable will probably happen for the first time. People will probably indulge in less food and goods than in the previous year. Until now, Christmas has always brought sales records, especially in online stores. However, they are one of the most affected segments this year and their sales are falling by tens of percent.

And although e-shop owners are looking ahead to the Christmas season, according to experts, they cannot expect any big harvest this time. Households are simply financially exhausted and gradually no longer have anywhere to borrow. The worst part is that there is no relief, quite the opposite.

Ten bad years

From next year, more big blows are coming at us, either in the form of a consolidation package that will affect absolutely everyone in terms of money, and that very noticeably, or in the form of energy prices rising again, as the Energy Regulatory Office has increased the regulated component of electricity by seventy percent.

Also read: A popular chain of stores in the Czech Republic unexpectedly goes bankrupt. Beware of purchases, the whole thing falls apart

We have simply entered a difficult period from which we will not easily get out. And while the ten years sometime up to 2020 were very strong, we are now apparently in a decade of economic depression that will intensify even more in the coming years.

Comment by Tomáš Mrkvička

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