Taking into account the low base in March 2023 and the increase in the purchasing power of the population, in March 2024 the retail sales turnover showed an increase.
During the year, the total turnover of retail companies increased by 2.2% at comparable prices. The increase in the volume of retail sales was also observed on a monthly basis.
In March, compared to February, retail turnover increased by 1%.
During the year, the retail turnover of food products and fuel increased, while the retail turnover of non-food products remained unchanged.
In March, the retail turnover of non-food goods remained at the level of March of the previous year.
The fastest increase in turnover by 25.8%, similar to February, was in the trade of clothes, shoes and leather products, while the increase of 21.7% was in the trade of flowers, plants, seeds, fertilizers, pet animals and their feed.
A more moderate increase of 8.5% was observed in the trade of information and communication technology equipment, by 5.8% in the retail trade of sports goods and games, while the increase of 4.1% was in the trade of cosmetics and toiletries.
On the other hand, retail turnover in March, compared to the corresponding period of the previous year, decreased by 19.3% in the trade of textiles, carpets, floor coverings, wallpapers, furniture, lighting devices and other types of household accessories, and by 15.3% the turnover of watches, jewelry and other unclassified goods decreased by 15.3%. in the retail sale of new goods, and by 14.4% – in the sale of books, newspapers, stationery, audio and video recordings.
There was a more moderate decrease of 6.3% in stores specializing in the retail sale of household electrical appliances, by 1.5% the turnover decreased in the sale of pharmaceutical medical supplies, and by 1.4% in the retail sale of metal products, tools, building materials and plumbing.
In the distribution by sales outlets, the decrease in turnover by 9.4% in March, compared to the corresponding period of the previous year, continued in retail trade in stalls and markets, and in other retail trade outside shops, stalls and markets – by 11.6%.
After the increase in February in March, the turnover also decreased by 6.3% in retail sales by mail or on the Internet.
Retail sales of food products rose sharply in March by 3.4% year-on-year and was the fastest increase since January 2022, largely due to the low base in March 2023, when retail sales of food products fell by 11.7%.
Fuel retail turnover at gas stations in March increased by 6.2% compared to March 2023, which was also determined by the low base in March of the previous year, when retail fuel turnover decreased by 5.9%.
In general, in January-March this year, retail sales turnover was 0.9% higher than in January-March 2023, which was largely determined by the increase in fuel retail sales turnover by 4.8%.
Retail sales of both food and non-food goods remained practically unchanged – an increase of 0.1%.
In the future, it is expected that the activity of buyers will gradually increase. The increase in wages, which currently exceeds inflation, will ease the financial situation of households and contribute to an increase in purchasing power, says Shnidere.
