Retail trade index

27. Jun 2022
Big drop in retail sales in Q1

Retail sales in the first quarter of a year rarely keep up with the previous quarter, mostly due to Christmas sales in Q4. and this year is no exception.

Retail sales figures (listed here in nominal values converted to real values) are divided into the following three main commodity groups: ‘groceries and non-alcoholic drinks’, ‘clothing and footwear’ and ‘furnishings and household equipment’.

Sales of groceries and non-alcoholic drinks dropped by 14%

Sales of groceries and non-alcoholic drinks went down by 14% from Q4 2021 to Q1 2022. The average drop in retail sales from Q4 to Q1 in the 2017-2021 period was 10%.

Retail sales in this commodity group went down by 8% from Q1 2021 to Q1 2022. This period saw a price increase of 3%.

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Sales of clothing and footwear went down 25%

The 25% drop in sales of clothing and footwear from Q4 2021 to Q1 2022 is less dramatic than the average Q4-Q1 drop of 40% in the 2017-2021 period.

Retail sales in this commodity group went down by 1% from Q1 2021 to Q1 2022. This period saw a price increase of 4%.

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Sales of furnishings and household equipment dropped by 32%

The 32% drop in sales of furnishings and household equipment from Q4 2021 to Q1 2022 is slightly higher than the average Q4-Q1 drop of 25% in the 2017-2021 period.

Retail sales in this commodity group went down by 15% from Q1 2021 to Q1 2022. This period saw a price increase of 5%.

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