Polish retail sales recorded an increase of 17.6% in April 2008, up by 2.9% over March 2008, says Polish Statistics Office.
Data released by the Central Statistical Office, Poland showed that the retail sales in Poland grew by about 17.6% during April 2008, an increase of around 2.9% over March 2008. However, analysts expected it to rise 18.6%, as reported by Forbes.
According to the Polish Statistics office, in April 2008, retail sectors like household appliances, consumer electronics and furniture recorded the highest sales growth of nearly 28%, while the sales of automobiles grew by about 27% and food, beverage and tobacco rose by around 7.6% on yearly basis.
The major reason behind the growth in the retail sales of the country during April 2008 is increasing personal disposable income and changing consumer behavior. Also, increasing consumer confidence and income with positive demographics provided enough growth opportunities to the Polish retail industry. Due to a strong economic growth in the country, consumers spent money on things other than food that drove retail sales in the country in April 2008.
Moreover, at the present saturation point in the Polish retail industry, retail companies are adopting the policy of consolidation to expand their business and move beyond the present financial position. Also, the increasing demand for retail goods is encouraging retailers to provide better supply and services to their customers and this resulted in rise in sales of retail products in April 2008.
Further, the retail sector of the country is controlled and regulated by its government. Almost everything from store location, staffing and distribution to pricing of retail goods are controlled by the central planning, which encourages and helps retailers to provide good quality and better services to their customers.
A Senior Research Analyst at RNCOS said, “Due to rise in consumer spending power and quality services from retail stores, a growth is being witnessed in the retail sector of Poland. But there are still many opportunities left in the market to explore. Thus, the Polish retailers should emphasize on expanding their services, improving marketing strategies and quality of products to avoid competition in retail industry in coming future.”
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