Weak December for retail in euro area | RetailDetail

Weak December for retail in euro area

Weak December for retail in euro area

Retail trade in the euro area has dropped 1.6 % in December compared to the month before. The Belgian drop was even higher, with - 1.9 %: it seems the holiday bonuses went straight into the bank accounts.

Unexpectedly harsh drop

The sales drop was much harsher than economists had expected, which was a ‘mere’ 0.7 % drop. The bad December figures are in line with the lower than expected numbers from November, when retail trade only grew 0.9 % in November, when a 1.4 % growth had been expected.

 

On a yearly basis, Germany suffered the biggest drop (- 2.4 %), before Belgium (- 1.9 %) and Finland (- 1.3 %). Luxembourg had the strongest surge (+ 9 %). There were no specific numbers available for the Dutch retail market.

 

Belgians hoard money

It is no surprise that retail trade dropped nearly 2 % in December compared to the year before: the Belgian National Bank had announced that Belgians had accumulated 249.8 billion euro in their bank accounts, nearly 3 billion euro higher than in November.

 

Holiday bonuses undoubtedly had something to do with that, as people put those aside for the future. November marked the first time since April 2012 that we had saved less (500 million euro less than in October) and when banks were drafting up the 2013 numbers, they noted that Belgians had started to put less money aside. Unfortunately for retail that was not the case for holiday bonuses - and every euro in the bank is a euro not spent in a store.

Questions or comments? Please feel free to contact the editors


EuroCommerce reminds retailers and wholesalers to be ready for GDPR

16/02/2018

(Content provided by EuroCommerce) With 100 days left before the EU’s General Data Protection Regulation (GDPR) comes into force on 25 May, EuroCommerce is reminding all retailers and wholesalers to take the necessary action to be ready and compliant.

Amazon hires 2,000 employees in France

15/02/2018

American internet warehouse Amazon’s French division is looking for 2,000 employees to keep up with its strong growth. Amazon.Fr is not only the most popular web shop in France, but also in Belgium.

Excellent year for Decathlon thanks to strong expansion

15/02/2018

Decathlon passed the 10 billion euro milestone for the first time in 2016. Thanks to a strong international expansion, it now surpassed the 11 billion euro mark.

Generational switch at BIC at a difficult time

15/02/2018

The French specialist in disposable products, Bic, will alter its board: current CEO Bruno Bich will pass on the reins to his 39-year old son Gonzalve who will have to halt the profit drop.

Dieter Struye is Colruyt Group's new general director non-food

13/02/2018

Dieter Struye, former Brico CEO, has joined Colruyt Group on Monday 12 February. He is now the general director non-food and therefore in charge of Dreamland, Dreambaby and ColliShop’s online activities.

Stable first quarter profit for Metro

13/02/2018

German Metro managed to stabilize its first quarter profit compared to last year, despite a setback in Russia. It mainly cut costs in its Real restructuring plan.

Back to top