The autumn started weakly in retail trade

By: Trademagazin Date: 2024. 11. 07. 12:16

Retail performance in September started off weaker compared to August, showing a 1.4% decline month-over-month after seasonal adjustments, partially attributed to disruptions from flooding.

This drop interrupted the upward trend observed since the year’s start, although year-on-year sales volumes grew by 1.7% in September due to a low base from previous years. Between January and September, retail volume increased by 2.7% overall, with food retail rising 3.8%, non-food at 2.3%, and fuel sales up by 0.6%.

Consumer confidence has been impacted by price shifts: food prices rose by 3.7% in September, while fuel prices dropped by 9.5%. E-commerce expanded by 11% year-on-year but now holds only 8.3% of retail due to intense competition from global players, including new entrants like Allegro. The GKI business confidence index reflected increased pessimism, especially within the retail sector, now seen as the most pessimistic industry.