In a strong showing for the Czech retail sector, sales grew consistently throughout last year, culminating in a 4.6% annual increase. The momentum peaked in December with an impressive 6.2% year-on-year growth, accompanied by a 1.2% month-on-month rise, according to the Czech Statistical Office.
E-commerce and mail-order services emerged as the primary growth drivers annually, while December saw remarkable performance in fuel sales, non-food items, and groceries, as reported by Jana Gotvaldová, head of trade, transport, and services statistics at the Czech Statistical Office.
Breaking down the annual figures, non-food goods led with a 6.1% increase, followed by fuel sales at 5.1%, and food sales at 2.4%. The automotive sector showed modest growth, with vehicle sales and repairs up by 1.2%.
December proved particularly lucrative for online retailers, who saw an 18.2% surge in sales. Non-specialized stores with a non-food focus experienced a 14% uptick, while cosmetics and toiletries stores enjoyed a 13.2% increase.
UniCredit Bank economist Jiří Pour noted that while December’s performance exceeded analyst expectations, consumer spending remained measured. “Households continue to increase their consumption gradually, maintaining historically high savings rates,” he explained, adding that positive real wage growth and controlled inflation suggest household consumption will continue driving the Czech economy this year.