Retail sales continue to fall, and food sales have reached an all-time low

The retail sales in the Czech Republic experienced a decline of 3.6% in 2022 compared to a 4.4% increase in the previous year. This decrease was reflected in the sales figures for December, which showed a year-over-year decrease of 7.3%. This marked the eighth consecutive month of decline in retail sales. The decrease in sales impacted both food and non-food sales, with food sales hitting their lowest point since 2001.

In terms of monthly sales, December sales decreased by 0.7% in real terms. According to data released by the Czech Statistical Office, food and non-food sales fell by 5.1% and 2.9% year-over-year, respectively. Additionally, retailers earned 1.5% less from fuel sales and 4.2% less from motor vehicle sales and repairs in 2022.

In December, grocery stores experienced a 10.2% decrease in sales year-over-year, non-food stores experienced a 7.5% decrease, and fuel sales experienced a 5.6% increase. Most specialized stores experienced a decline in sales, including household goods stores, which experienced a 11.4% decrease, computer stores, which experienced a 10% decrease, and culture, sport, and recreation product stores, which experienced a 4.8% decrease.

Sales to online and mail-order stores decreased by 11% year-over-year, while sales in pharmaceutical and medical stores increased by 4%. Motor vehicle sales and repairs saw a 0.3% increase year-over-year and a 0.7% increase compared to November. In terms of annual figures, motor vehicle sales, repair, and maintenance revenues decreased by 4.2% in 2022 after a 8.3% increase in the previous year.
Article by Prague Forum

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