“Sales grew in all main groups of stores with a non-food and food assortment,” said Jana Gotvaldová, head of the Department of Trade, Transport and Services Statistics of the CZSO, regarding the year-on-year growth in sales.
In the case of non-food goods, statisticians recorded a year-on-year increase of 7.7 percent. For example, sales in specialized stores with cosmetic and toilet products increased by more than a quarter. Clothing and footwear stores saw growth of 5.2 percent.
Sales of grocery stores increased by four percent, and sales of fuel even increased by 6.7 percent. Sales to internet and mail order stores then increased by almost 15 percent.
A low base of comparison
“Czechs have finally started spending more. At first glance, the trend looks very good,” Citfin analyst Tomáš Volf said about the March numbers. But at the same time, he added: “The flaw in the beauty is the fact that last March retail sales fell by 9.5 percent, so today’s figure spoke positively mainly of the low comparative base.”
According to the Chief Economist of Banka Creditas, Peter Dufek, the numbers did exceed expectations, but, like Volf, he pointed to the low comparative base from last year. “In addition, Easter was a little earlier this year, so the effect of preparation for these holidays could also play a role,” he pointed out.
“In any case, it can be seen that the desire to shop is gradually returning to the Czechs. After two years of extreme inflation by our standards and the associated drop in purchasing power, this year the situation is starting to return to its original tracks,” added Dufek, adding that household consumption should be the main driver of the economy this year.
Budějovice Budvar had record sales of 3.37 billion crowns last year
Economy
Tags: desire shop returning Czechs Retail sales rose significantly March
