- Hans Weber
- September 28, 2023
Czech Republic Sees Twelfth Consecutive Month of Retail Sales Decline
According to the Czech Statistical Office (CZSO), retail sales in the Czech Republic experienced a decline for the twelfth consecutive month in April. However, there was a slight improvement as the year-on-year decrease slowed to 7.7% compared to March’s 9.5% decline. In monthly comparison, retail sales in April dropped by 0.3%.
The decline in sales was observed across all types of stores, including Internet and mail-order retail. Food sales decreased by 9.4% in stores primarily selling food and by nearly 7% in specialized food stores. Sales of non-food items in stores primarily focused on non-food products saw a 4.1% increase, while internet and mail-order sales experienced a 6.8% annual decline.
Sales of household items in specialized stores recorded a significant drop of 16.5%, while clothing and footwear retailers witnessed a decline in customer spending of 7.5%. Sales in computer and communication equipment stores fell by 5%, and sales of products related to culture, sports, and recreation decreased by 3.7%. Sales of pharmacy and health goods also saw a decrease of 2.5% compared to April 2021.
In contrast, sales of fuel in April showed a year-on-year increase in turnover, similar to the previous month. Customers spent approximately 7% more on fuel compared to the previous year.
The CZSO data was released following statements made by Marie Bouskova, the director of the Department of Trade, Transport, Services, Tourism, and the Environment Statistics at the CZSO. Bouskova highlighted that all types of stores reported a decline in revenues, with non-specialized retail stores predominantly selling food and stores specializing in household items experiencing the most significant impact.
The Czech Republic continues to face challenges in reversing the trend of declining retail sales, especially as many businesses struggle to survive amid the ongoing COVID-19 pandemic and economic uncertainty. The coming months will be crucial in determining the trajectory of the country’s retail sector and its ability to recover.
Article by Prague Forum