Subscribe Login
DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

Euro Zone Retail Sales Rise In March, Beat Expectations

Euro zone retail sales rose by more than expected in March, data showed on Thursday, pointing to pent-up consumer demand as pandemic lockdowns ease.

The European Union's statistics office Eurostat said on Thursday that retail sales in the 19 countries sharing the euro jumped 2.7% month-on-month in March for a 12.0% year-on-year surge.

Economists polled by Reuters had expected a 1.5% monthly rise and a 9.6% annual gain.

On a year-on-year basis, the volume of retail trade in March 2021 increased by 25.0% for nonfood products, 17.1% for automotive fuels, and decreased by 1.1% for food, drinks and tobacco.

Growth Drivers

The sales were driven mainly by demand for non-food products excluding automotive fuel, which jumped 4.6% in March against February for a 25.0% year-on-year rise. Online purchases surged 37.2% year-on-year, Eurostat said.

In the EU, the volume of retail trade increased by 4.2% for non-food products and by 0.8% for food, drinks and tobacco, while it decreased by 2.3% for automotive fuels.

Among member states for which data is available, the highest monthly increases in total retail trade were registered in Denmark (+22.5%), the Netherlands (+8.4%), Germany and Lithuania (both +7.7%), Eurostat noted.

The largest decreases were observed in Croatia (-4.0%), Poland (-2.2%) and Austria (-1.9%).

Online Sales

Internet supermarket Amazon.com Inc posted record profits in the first quarter and signalled that consumers would keep spending, making it one of the biggest winners of the COVID-19 pandemic.

Since the start of the coronavirus outbreak, shoppers have relied increasingly on Amazon for delivery of home staples, and the company sees this trend continuing post-pandemic, particularly for groceries.

In February 2021, the retail trade volume increased by 4.2% in the euro area and by 3.8% in the EU, Eurostat added.

News by Reuters, additional reporting by ESM. For more Retail stories, click here. Click subscribe to sign up to ESM: European Supermarket Magazine.

Stay Connected With Our Weekly Newsletter

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our Terms & Conditions and Privacy Policy
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days
Enjoy unlimited digital access for 30 days
Get exclusive access to the latest grocery retail & FMCG news, interviews with industry leading executives, and expert analysis on the trends shaping the sector today
Enjoy unlimited digital access for 30 days