A good basis for this year’s growth in retail turnover is the increase in household savings, according to an analysis

By: Trademagazin editor Date: 2021. 03. 09. 11:47

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As retail savings grew in 2020, it could be a good basis for retail growth in 2021, Euler Hermes, a credit insurer, told MTI in its latest forecast on Tuesday.

A significant portion of retail has so far resisted the effects of the pandemic, as opposed to other sectors of the economy, while the sector is reacting sharply to any change. The loss of turnover from previous store closures already caused serious losses in the previous year to those in the industry who could not switch to online sales, so the impact of the newly announced restrictions could again cause a serious loss, according to the analysis.