Estonia’s shopping slump continues

Text Mark Taylor
Photo Borko Manigoda / Pexels

According to data released by Statistics Estonia, in July, the turnover of retail trade businesses fell by 2 per cent compared to the same month last year, The total turnover of retail trade enterprises was 892 million euros.

Johanna Linda Pihlak, an analyst at Statistics Estonia, explained that the decline was mainly driven by a reduction in sales at stores selling manufactured goods and grocery stores, with both categories experiencing a 3 per cent decrease in turnover. However, there was a notable increase of 4 per cent in the turnover of businesses engaged in automotive fuel sales.

Within the sector of stores selling manufactured goods, the most significant drop was seen in specialised stores dealing in computers, books, sports equipment, and toys, where turnover fell by 9 per cent. Other areas also saw declines, including stores selling household goods and appliances, which saw a 6 per cent decrease, and stores specialising in textiles, clothing, and footwear, which experienced a 4 per cent drop. Conversely, pharmacies and cosmetics stores saw an 8 per cent increase in turnover, while second-hand goods stores and non-store retail (such as stalls and markets) saw a 3 per cent increase. Department stores reported a modest 1 per cent increase, and turnover remained unchanged in mail-order and online stores.

Month-on-month, July’s retail trade turnover increased by 4 per cent compared to June, with seasonally and working-day adjusted data showing a 1 per cent rise.

In the first seven months of 2024, the turnover of retail trade enterprises has decreased by 4 per cent compared to the same period last year.

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Economic Indicators Estonia Economy Estonia July 2024 Retail Sales Drop Retail Trade Statistics Estonia