Retail trade in Sweden increased in November
Retail sales for consumables increased by 2.0 percent while retail sales for durables increased by 7.5 percent. The information is working day adjusted.
The turnover for retail trade measured in current prices increased by 7 percent from November 2014 to November 2015.
Retail trade for consumables (such as goods sold in department stores and specialised grocery stores) showed an increase of 4.6 percent, while durables (such as clothing stores, furniture stores, second-hand goods stores and mail order houses) increased by 8.8 percent.
Retail trade sales increased by 0.4 percent between October 2015 and November 2015.
During the last three-month period (September through November), the sales increased by 1.3 percent compared with the previous three-month period (June through August).
Both of these figures are in constant prices, working day adjusted and seasonally adjusted.
Comments from HUI Research:
The preliminary sales statistics for retail trade showed a 7.0 percent growth during November. During the period January - November sales increased by 5.8 percent.
2015 has been a very strong year for retail trade with a growth rate not seen since before the financial crisis. This development is largely due to the strong purchasing power of households, low interest rates, and increases in real wages.
The growth rate for November is probably also explained by the imported shopping day called Black Friday, a relatively new phenomenon in Sweden which reinforced the sales boom we have seen during the year.
Statistics from price comparison sites suggest that consumers were price-conscious during Black Friday, which indicates that discounts and low prices are significant driving forces for sales growth.
The preliminary growth rate for the November sales in the consumables category was 4.6 percent.
When adjusted for price changes the growth rate was 2.0 percent. The rate of price increase for November was 2.6 percent, which is the lowest rate in 3 months.
The question is if food prices, which have been inflationary, are starting to decrease when the industry has become more focused on prices after the summer months.
Durables did very well in November and the preliminary sales growth was 8.8 percent. When adjusted for calendar effects the growth rate was 7.6 percent.
The sales trend we have seen during the year was reinforced in November when home hardware, electronics, clothes and furniture showed strong growth. Despite the fact that sales in durables increased significantly, the rate of price increase was 0 percent.
HUI predicts that the retail year of 2015 will finish strongly with a sales growth of 5.0 percent in December. ■