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Retail

Dutch Retail Sales Increase, Volumes Decline In Q3: CBS

By Dayeeta Das
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Dutch Retail Sales Increase, Volumes Decline In Q3: CBS

Retail sales in the Netherlands increased by more than 4% year-on-year in the third quarter, due to price increases.

Sales volumes for the quarter declined by nearly 3%, the latest data from the Centraal Bureau voor de Statistiek (CBS, Statistics Netherlands) showed.

This is also the sixth consecutive quarter when year-on-year sales volumes declined, the CBS added.

Food, Non-Food Retail

In the food segment, year-on-year sales increased by almost 7% during the quarter, with supermarkets and food specialty shops, such as butchers and cheese shops, witnessing higher sales.

Sales volumes in food shops dropped by more than 4% year on year during the quarter, while supermarkets saw a decline of nearly 3%.

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In the non-food segment, sales increased by more than 1% compared to the third quarter of 2022, while volumes declined by 4.1%.

With volume declines of 8% and 7%, respectively, clothing and shops selling shoes and leather goods were the most affected in this segment.

Online retail sales increased by 1.4% during the quarter, with multichannel retailers witnessing declines of 2%.

Among shops selling exclusively online, sales grew by over 4% in the third quarter of 2023, the CBS noted.

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Other Findings

Elsewhere, retail bankruptcies increased by 60% compared to the third quarter of 2022.

Around 75 retail companies declared bankruptcy during the quarter, up from 47 in the year-ago period.

Of all bankruptcies declared in the third quarter of 2023, 9% were businesses in the retail sector. In the previous quarter, the figure was 7%.

The total number of businesses in the retail sector in the third quarter was 163,000, excluding petrol stations and pharmacies.

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The economic outlook among retailers, although still negative, witnessed an improvement.

At the beginning of the fourth quarter, 6% of business owners expected a deterioration in the economic climate, down from 34.4% last year.

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