Retailers see buying spree subsiding
Price hikes and their effect on sales are suppliers’ and retailers’ new big headache, as the negative impact from pandemic-related issues continues to recede.
Although there are factors that benefit sales, such as the rebound of the economy and the return of tourism this year, a number of supermarket industry insiders estimate that sales in the sector will only rise by 0.8% in 2021 compared to last year.
The latest survey of trends by the Research Institute of Retail Consumer Goods (IELKA) has found that 43% of supermarket chain officials and suppliers expect the sector’s sales to increase in the July-December period, while 21% anticipate a drop. On average, the respondents project an increase of 0.7% in sales over the second half of the year, rising to 0.8% for the entire year.
There is, however, a strongly positive finding, in that after the major deterioration recorded in 2020, 57% of those surveyed in September 2021 said the country’s economic situation has improved, against 25% of respondents who thought that the country’s financial state has worsened.