Danish Retail Sector Nervous Despite Record Sales Growth In May
The retail sector in Denmark remains 'nervous' despite recording its biggest ever sales growth of 9.4% from April to May, according to a report by Dansk Erhverv, an organisation that represents a wide range of companies and industry associations in the country.
Dansk Erhverv noted that that this growth must be seen in the context of a general increase in sales following the easing of coronavirus related retail restrictions on 11 May.
This growth can be considered as a one-off occurrence for the retail sector, which is unlikely to repeat over the summer, Dansk Erhverv added.
Over the coming months, the organisation has projected a more modest increase in retail sales, which in time may even drop.
In addition, Denmark’s retail composite economic indicator rose from -15 in May to -2 in June, according to the latest data published by Statistics Denmark.
Describing the current situation as ‘fine progress’, Dansk Erhverv highlighted that sales in many retail outlets are still affected by the coronavirus crisis.
It has also urged the government to pay holiday allowance at the earliest opportunity, as consumption among Danes is proportional to their disposable income.
© 2020 European Supermarket Magazine – your source for the latest retail news. Article by Dayeeta Das. Click subscribe to sign up to ESM: The European Supermarket Magazine