January´s retail turnover rose again after a year, affected mainly by mail-order sales

After the declines throughout the year 2023, turnover in retail increased again year-on-year in January 2024. The growth of the entire industry was mainly supported by post-Christmas mail order sales, stores with specialized goods and large retail chains. The better result was hampered by a double-digit decline in turnover of fuel.

Retail turnover¹⁾ in January 2024 achieved a year-on-year growth by 1.9%. The industry increased after a year of declines. However, the current January´s growth is a consequence of the lower comparative base from last year's January, when a slowdown was already recorded.

The Statistical Office of the SR points out that from the data for January 2024, all values of year-on-year and month-on-month indices of retail turnover (as well as other structures of internal trade) were recalculated due to methodological adjustments – transition to a new base period (from 2015 to 2021) and application of the concept of business units of the enterprise²⁾. The change will affect all monthly indicators of sectoral statistics - absolute values and indexes.

Year-on-year turnover growth in the first month was attributed to 6 out of 9 monitored components of the retail trade. The result was most significantly influenced by almost 30% higher turnover of e-shops (sale outside stores, stalls and markets). The turnover of this sector rose radically after four months of decline. The overall retail balance was also positively affected by the increase in turnover of specialized stores, e.g. footwear, textiles or drugstores (specialized sales of other goods) by 3% and also a year-on-year increase in the turnover of large hyper- and supermarkets (sales in non-specialized stores) by 1.6%.

On the contrary, the most significant dampening effect on the result was a 15.6% decrease in gas station turnover (fuel turnover), as well as double-digit declines in ICT sales (specialized sales of IT and communications equipment), or in stores of toys, sporting goods, books, etc. (specialized sale of goods for culture and recreation).

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Year-on-year development of other components of trade in January 2024

Turnover increased year-on-year in the sale and repair of motor vehicles and motorcycles¹⁾, slightly by 1.6%. All three components of this type of turnover were positive. The year-on-year increase in turnover by 2.9% was also recorded by food and beverage service activities¹⁾. Their turnover increased for 16 months in a row. Wholesale³⁾ and accommodation¹⁾ registered a turnover decline. Turnover in wholesale dropped by 1.6% year-on-year, in accommodation by 1.4%.

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Month-on-month development in January 2024 compared to December 2023

January´s turnover compared to the previous month (with December 2023)⁴⁾ dropped in the entire internal trade sector, namely in sale and repair of motor vehicles by 0.8%, in wholesale by 1.6% and in retail by 1%. A more dynamic decrease in turnover was recorded by food and beverage service activities by 4% and especially accommodation by up to 8.1%.