bne IntelliNews – Polish retail gross sales decelerate one-year decline in February after purchasing facilities reopen
Polish retail gross sales fell 3.1% year-on-year at fixed costs in February, in comparison with a 6% year-on-year decline within the earlier month, the GUS statistics workplace mentioned on March 19.
The easing of the drop in income is the results of the reopening of purchasing facilities after a brief lockdown in January. Nonetheless, basic sentiment within the retail phase stays low as a result of coronavirus pandemic (COVID-19), which is forcing Poles to spend much less, selecting as a substitute to save cash in anticipation of adverse instances. .
A rebound in retail gross sales will not be anticipated till the second half of the 12 months, notes the Millennium Financial institution. “This might be a interval of dynamic catching-up of pent-up client demand in step with the decreased danger of an infection and a gradual opening up of the service sector,” the financial institution mentioned in a commentary on the GUS figures.
For now, retail will expertise extra issues as the federal government has ordered a brand new lockdown, beginning March 20 and anticipated to final a minimum of till April 9. Poland stays within the grip of the third wave of the pandemic, with a each day variety of new infections exceeding 25,000.
4 of the eight main retail segments suffered year-on-year gross sales declines at fixed costs in January, the information breaks down.
Gross sales within the fuels phase have been down 14.8% y / y (in comparison with a decline of 16.4% y / y in January). Gross sales of meals, drinks, tobacco and prescription drugs additionally declined, as did gross sales within the “different” class.
On the constructive facet, gross sales of automobiles, bikes and components have been up 1% year-on-year within the second month. Clothes gross sales grew 12.9% year-on-year, whereas gross sales of furnishings, audio and video gear, and residential home equipment – a lot of which is finished on-line – grew 9% year-on-year .
Total, the share of on-line purchasing declined to eight.6% of general gross sales in February, from 9.8% in January, GUS mentioned.
In month-to-month phrases, retail gross sales rose 3.5% at fixed costs in February after collapsing 24.9% m / m the month earlier than. In present costs, gross sales decreased by 2.7% y / y and elevated by 4% m / m in February.
Seasonally adjusted, retail gross sales elevated 5.3% m / m in February (-1.4% m / m in January). GUS doesn’t present seasonally adjusted y / y knowledge.