Published:13.03.2024
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Czech Retail Sector Sees a Rise: Online Sales Lead the Charge

The Czech retail sector has seen a significant upswing, marking the end of a year-and-a-half slump. According to data from the Czech Statistical Office, January saw a year-on-year increase in sales of 2.4 percent. The surge in retail sales was primarily driven by the online sector, which also recorded a rise in month-on-month comparison.

Non-food items, fuel, and food all contributed to the increase in sales. Food sales, in particular, saw a year-on-year growth in January after twenty months of decline. Jana Gotvaldová, Head of the Trade, Transport, and Services Statistics department of the Czech Statistical Office, mentioned that online sales contributed significantly to the rise in retail sales.

There was a noticeable increase in sales in stores selling cosmetics and toiletries, with a 14.5 percent year-on-year increase in sales. Sales also increased by almost nine percent in pharmaceutical and medical stores. On the flip side, sales in stores selling household goods decreased by more than six percent, followed by clothing and footwear stores, where sales fell by about four percent.

Tomáš Volf, an analyst at Citfin, evaluated that the spending of Czechs had been continuously negative for nearly two years. However, the trend is reversing; sales have grown for three consecutive months. This is excellent news for the retail sector; consumers now believe they will be in a better financial situation this year.

Created by the team of CzechTrade Shanghai
Source: Czech Daily