How was the beginning of the year in trade? – sector outlook

By: Trademagazin Date: 2024. 03. 12. 12:33

In January, the level of turnover typical during the end-of-year holiday period in domestic trade was maintained, but growth was not achieved despite the favorable wage dynamics, according to the latest monthly sector outlook of MBH Bank’s Analytical Center.

The defining processes of trade: Compared to last December, the turnover of domestic stores did not change in January this year. A positive reading of the news is that January was able to maintain the volume of the holiday period, which is typically a weaker period. On the other hand, it is negative that, despite the favorable wage dynamics, it was not possible to show an increase (increasing real wages, and in January, those affected already received an increased minimum wage and a guaranteed minimum wage).

In the first month of the year, the volume of retail trade increased by 0.6% (both raw and calendar-adjusted) compared to the same period of the previous year. This is the first figure with a positive sign since November 2022.
The calendar-adjusted volume of sales in food and food-related mixed stores increased by 0.2%, in fuel retail by 4.6%, and in non-food retail by 0.9%.

The sales volume of food-type mixed stores, which account for 76% of food retail, increased by 1.0%, while that of food, beverage, and tobacco specialty stores decreased by 2.1%.