Retailers have seen fewer products sold for six straight quarters. Clothes and shoes in particular are purchased less frequently. They can only increase their business volume by increasing prices. At the same time, the number of store closures is increasing.
In the third quarter of this year, stores sold 3 percent less than in the same period last year. This was already the sixth consecutive quarter in which sales volumes declined, according to new figures from the CBS statistics agency. Consumers have been keeping their hands on their wallets since the fall of 2022.
We skimp mainly on clothes and shoes. In clothing stores, sales decreased by 8 percent from last year, and in shoe stores, the number of sales decreased by more than 7 percent.
Fewer products also ended up on the treadmill in supermarkets. There was a 3 percent decrease compared to last year. The number of products sold by butchers and cheese farmers also decreased slightly (4 percent).
Retailers are able to increase their sales volume by raising prices. In the food sector, turnover increased by 7 percent. In the so-called non-food sector, turnover increased by 1 percent.
Consumption is returning to pre-coronavirus levels
Another CBS post shows that Dutch consumption has returned to pre-coronavirus levels this year. We spend an average of around €4,800 on consumer spending every quarter. Spending in 2018 and 2019 was also around this level. But higher prices mean you can buy less of it.
The fact that the retail sector is suffering from consumer discounts is also becoming clear as more and more stores are forced to close. Last quarter, 75 retail companies went bankrupt, 60 percent more than in the same period last year. One in 11 bankruptcies involves a retail business.
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