Sales revenue for French stores in the specialised retail sector grew by +2.2% in October 2024 compared to October 2023.
Most sectors saw an increase in same-store sales, except for the home goods sector, which declined by -2%. Specialised food (+9.2%) and beauty-health (+8.2%) ended the month with significant in-store sales increases compared to October 2023.
Photo: Dreamstime.
Three sectors experienced very slight in-store sales increases compared to October 2023: +1.5% for clothing, +0.5% for gifts-culture-toys, and +0.3% for foodservice. Sales growth in the last two categories was notably below the October inflation rate (+1.2% according to INSEE).
Store foot traffic was slightly up in October (+1.5%), aligning with the revenue growth at retail points of sale. Notably, downtown stores saw a +3.5% increase in foot traffic, while peripheral stores experienced a -1.9% decline.
Sales revenue trends in specialised retail
The average online sales increase outpaced in-store sales growth for specialised retail at +4.1%. However, notable declines in online sales were observed in the home goods (-8.3%) and foodservice (-6.1%) sectors compared to October 2023.
From January to October 2024 vs. the same period in 2023, in-store sales increased by +2%. However, the home goods sector saw a -2% decline. The housing crisis continues to heavily impact sectors like furniture, despite lower interest rates.
As holiday shopping begins, the overall performance of industries and brands remains closely tied to French consumer spending over the coming weeks. Analysts will watch closely to see whether shopping begins in mid-November, as recent consumer studies suggest, or if consumers will wait until the last minute before Christmas to finalise their holiday shopping decisions.
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