Retail turnover accelerated its growth in July, and specialized stores with footwear, textiles and drugstores prospered

Retail turnover in 2024 accelerated its year-on-year growth above the level of 5%. The overall result was the most affected by its double-digit increases in specialized stores of other goods including also stores of shoes, textiles, drugstores and pharmacies, as well as the continued growth in Internet sales.

Retail turnover¹⁾ at constant prices in July 2024 rose year-on-year for the seventh consecutive month, currently increased by 5.7%. However, this year's growth is still affected by the last year´s lower comparative base, when high inflation significantly reduced the turnover value when converted to constant prices.

Year-on-year higher turnover at constant prices was achieved by 5 out of 9 components of retail trade. The result of the entire sector was the most significantly affected by the turnover increase by 12.4% in specialized stores, e.g. footwear, textiles, drugstores or pharmacies (specialized sale of other goods) and the higher turnover of e-shops (sales outside stores, stands and markets) by 21.6%, which is, however, affected by the change in the structure and number of businesses included in this sector. The turnover growth in the most significant component of retail trade, in large hyper- and supermarkets (non-specialized stores) by 4.9%, also had a significant impact.

On the contrary, components with year-on-year lower turnover had a dampening effect on retail turnover growth. These were mainly gas stations (specialized sale of fuel) with a decline by 9% and stores of ICT equipment with a decrease by 12.7%.

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

Of the other components of internal trade, they recorded a year-on-year turnover increase¹⁾ in accommodation by 9% and in wholesale²⁾ by 1.3%. On the contrary, turnover decreased in sales and repair of motor vehicles and motorcycles by 4.7% and in food and beverage service activities by 1.7%.

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Month-on-month development in July 2024 compared to June 2024

Turnover after seasonal adjustment in July month-on-month3) rose in wholesale²⁾ by 2.6%, in retail trade by 1.8%, in accommodation by 12% and in food and beverage service activities by 0.3%. It dropped only in sale and repair of motor vehicles by 0.4%.

Development for 2024

In total, for the first 7 months of 2024, turnover¹⁾ rose year-on-year, in retail by 4%, in accommodation by 1.3% and in food and beverage services by 1.9%. Sales and repair of motor vehicles recorded a decrease of 1.2% and wholesale²⁾ by 2.9%.