The Czech retail sector showed signs of moderation as year-on-year sales growth decelerated to 4.3% in November, down from October’s revised 5.1% increase. The slowdown comes amid mixed performance across various retail segments, with e-commerce emerging as a standout performer.
Jana Gotvaldova, head of trade, transport and services statistics at the Czech Statistical Office, highlighted that while retail sales maintained their upward trajectory, the pace has eased compared to the previous four months. The growth was primarily driven by online and mail-order sales, alongside fuel retail.
The data reveals varying performance across sectors. Online and mail-order businesses recorded an impressive 14.1% growth, while fuel sales surged by 10.8%. Non-food goods saw a 5.5% increase, though food sales showed modest growth of just 0.4%.
Cosmetics and toiletries retailers enjoyed robust growth of 12.9%, and pharmaceutical goods sales increased by 3.7%. However, some sectors struggled, with computer and communication equipment sales declining by 6.3% and household goods dropping by 1.2%.
According to Miroslav Novák, an analyst at Akcenta, while the year-on-year growth appears strong, it’s largely due to the low statistical base from 2023. Current sales volumes remain below May 2022 levels, with figures still 5% lower than November 2021. The market is expected to recover to 2021 levels by the end of this year.