Portugal retail sales four times EU average

 In News

Retail sales in Portugal grew 4.4% like for like in November last year at a time when overall sales in the Euro Zone grew 1.1%.

The figures released by the EU’s statistical office Eurostat on 7 January reveal that consumer spending in Portugal is four times the EU average overall for the last quarter of 2018.

However, retail spending was higher in countries like Slovenia (10.7%), Romania (7.2%), Lithuania (7%), Bulgaria (6.6%), Slovakia (5.4%), Estonia (5.3%), Hungary (5.2%) and Poland (4.7%).

Nevertheless, the growth in sales of 4.4% in November still represents a slowdown compared to the 5.6% seen in Portugal in October 2018.

According to Eurostat the slowdown in retail sales across the Euro Zone overall in November was down to a falloff in trade for food, tobacco, drinks and non-food products whereas car sales increased 1.7% in October and 2.9% in November.

Overall, in 2018 private consumption in Portugal achieved the maximum of the millennium so far and equals the European Union average.

According to the Ecommerce Foundation the turnover of online sales in Portugal increased 12.5% to €4.73Bn (+2%) on 2016 and that trend is set to be equal to or more for 2018.

Online sales were, however, below the European Union average which was estimated to be 13.6% in 2017.

In terms of shopping centre sales, 2017 was a good year which in the third quarter of 2017 were up 9.8% with footfall up 3.6%.

And when it comes to food retail in Portugal, Sonae MC led the way in 2018 with around 70% of the market from a total of 567 stores. The group managed to up its market share from 14% to 21.9% overall between 2007 and 2017 and believes that the market will continue to increase until 2022.