Growth in consumption will only come after that, encouraging signs are beginning to appear in the area of food consumption

By: Trademagazin Date: 2024. 01. 08. 12:40

There are several factors behind the decline in consumer behavior and retail sales in November. Due to the higher turnover period at the end of the year, Black Friday sales may still be valid in December, which may have influenced the data. However, the January-February numbers should already indicate growth, and according to experts, a gradual increase in real wages can support the recovery of consumption.

Encouraging signs are beginning to appear in the field of food consumption, but a drastic increase in general consumption is still to be seen. Among the changes in various sectors, the increase in the turnover of furniture and technical goods stores, as well as the expansion experienced in textile, clothing and footwear stores, stand out – the vg.hu article reports.

A decrease in inflation and a decrease in credit interest rates may also contribute to the revival of retail sales. At the same time, experts are cautiously optimistic, as these processes have a slow effect and the restoration of consumer confidence may take longer. In the future, the rise of real wages and the avoidance of fuel price regulation may help the retail sector to recover, but the restoration of consumer confidence is also necessary for sustained growth.