Retail sales down nearly 6% y.o.y. in February

Retail

In February 2021, the volume of retail sales - as a result of the (first) panic buying wave at the end of February 2020 - decreased by 5.6% according to raw data and by 5.9% when adjusted for calendar effects compared to the same period of the previous year, the Central Statistical Office (KSH) reports.

Compared to February 2020, the volume of sales decreased by 3.5% in specialized and non-specialized food retailing. The volume of sales decreased by 2.6% in non-specialized food and beverages shops accounting for 76% of food retailing and by 1.6% in specialized food, beverage and tobacco stores.

The turnover of non-food retailing decreased by a total of 3.3%. Sales rose in non-specialized shops dealing in manufactured goods (0.8%). The volume of sales fell in pharmaceutical, medical goods and cosmetics shops (13%), books, computer equipment and other specialized stores (15%), furniture and electrical goods stores (18%), textiles, clothing and footwear shops (24%) as well as in second-hand goods shops (28%).

The volume of mail order and internet retailing accounting for 8.9% of all retail sales and involving a wide range of goods rose by 26%, continuing a multi-year expansion.

The volume of sales in automotive fuel stations continued to decrease, falling 10.4% year-on-year.

Sales in motor vehicles and motor vehicle parts and accessories stores not belonging to retail data decreased by 18%.

In February 2021, domestic retail sales amounted to HUF 946 billion at current prices. Specialized and non-specialized food shops accounted for 48% of all retail sales, while the relevant figures for non-food retail trade of petrol stations were 37% and 15% respectively.

Retail sales down 3.9% y.o.y. in January-February 2021

The volume of sales in retail shops decreased by 3.9%.

The volume of sales decreased by 1% in specialized and non-specialized food shops, by 2.8% in non-food retail trade and by 9.5% in automotive fuel retailing, KSH notes.

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