Turnover up 2% on last year

In September 2023, the retail sector saw a number of fluctuations, creating a complex picture of economic developments. Turnover saw both significant declines and surprising increases, bringing the vibrant story of the retail market to the fore.

According to data provided by National Statistical Institute , in an unexpected move, retail turnover saw a 4.7% decrease compared to August 2023 in both the gross and adjusted series. This decline was mainly supported by declines in motor fuel retail trade in specialized outlets (-8.9%), food, beverages and tobacco sales (-7.3%), and non-food sales (-0.2%).

Compared to the same month last year, September 2023 brought a 0.9% decrease in the gross series, with a notable 9.3% decline in motor fuel retail trade. However, this decline was offset by increases in food, beverage and tobacco sales (+2.9%) and non-food sales (+0.8%).

To complete the picture, analysis for January-September 2023 shows an overall increase in turnover of 2.0%. Non-food sales were up a significant 3.5% and food, beverage and tobacco sales were up 3.4%. Despite this overall increase, fuel retail trade saw a decrease of 3.1%.

Workday- and seasonally adjusted data brought to the fore a 0.7% decrease in September 2023 compared to the previous month.

However, non-food sales were up 0.5%, bringing an element of optimism to the economic landscape.

In summary, September 2023 was a month full of challenges and surprises for retail. The complex figures provide an intriguing insight into market dynamics, and industry players will certainly be paying close attention to future trends to successfully navigate this sea of economic change.