Retail trade records sharp decline in April due to Corona
Swiss retail sales plummeted by about one-fifth in April due to the COVID-19 pandemic. Different sectors were affected to varying degrees by the circumstances, as the Federal Statistical Office (FSO) reported on Tuesday. A sharp decline had already occurred in March.
Compared to the same month last year, retail sales adjusted for the effects of sales and public holidays fell by 20.6% in nominal terms in April. Taking inflation into account, there was a real decline of 19.9%. Seasonally adjusted compared to the previous month, the decline was 14.8% (-14.7% in real terms) according to provisional data from the FSO.
Non-food sector particularly affected
In line with the closed stores, the non-food sector was particularly hard hit, shrinking by over 40% overall. Within this sector, the sub-categories "other goods (clothing, pharmacies, watches and jewelry)" (-56%) and "other household appliances, textiles, DIY and furnishings" (-46%) suffered even greater losses.
Food, beverages and tobacco less affected
Less affected by the crisis was the retail trade in food, beverages and tobacco, which grew by 4.0% in nominal terms (+3.5% in real terms). The "market stalls, mail order and e-commerce" sectors even recorded an increase in turnover of over 22%. The "information and communication technology equipment" sector recorded a 3.9% increase in turnover (+12.1% in real terms). (SDA)
