Retail sales: in December -0.2% monthly, +3.4% annually

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Last December, Istat estimated a cyclical drop in retail sales (-0.2% in value and -0.7% in volume). Sales of food goods recorded a slight increase in value (+0.1%) and decreased in volume (-0.6%), while those of non-food goods decreased both in value and in volume (respectively -0.4% and -0.8%). On a trend basis, retail sales increased by 3.4% in value and recorded a decrease in volume (-4.4%). A similar trend characterizes both the sales of food goods (+5.8% in value and -6.6% in volume), and the sales of non-food goods (+1.7% in value and -3.1% respectively by volume). As regards non-food goods, positive trend changes were recorded for all product groups with the exception of IT, telecommunications and telephony equipment (-1.8%) and Pharmaceutical products (-2.7%).

Value increases, volumes decrease

“Overall in 2022 – comments Istat – retail sales in value grow compared to the previous year (+4.6%)” while “volumes decrease (-0.8%) due to the decline in food (-4.2%) not offset by the increase in non-food products (+1.9%). All quarters of last year saw cyclical increases in the overall value of sales, associated with a decrease in related volumes. On average in 2022, the growth in value of sales characterized all forms of distribution, albeit to a very differentiated extent, with the greatest increases recorded for specialized large-scale distribution and discount stores».

Spending at discount stores is growing

In detail, against an annual increase in December in the value of sales of large-scale distribution of 6.5%, sales in value of food discounts rose by 9.8%. Against an increase in sales in value for large-scale distribution of 5.8% on average in 2022 over 2021, there is a growth in sales of food discount stores of 9.9%.

Inflation effect

«The data on retail sales for 2022 demonstrate the tsunami effect caused by inflation on Italian families», comments Assoutenti: «To face the high prices and skyrocketing bills – says the president Furio Truzzi – families have been forced to cut primary expenses such as food. A typical family has reduced food spending by around 237 euros in 2022, -323 euros for a household with two children”.

The president of Codacons Carlo Rienzi agrees: «The skyrocketing inflation that has characterized the last few months continues to have effects on household spending. Net of the price increase, they have reduced purchases by a total of 6 billion euros, with an average contraction in sales of around 234 euros per nucleus».