Retail sales in the eurozone fell slightly in December 2024 compared to the previous month. Figures from European statistics office Eurostat showed that the volume of sales decreased by 0.2 per cent in the euro area and by 0.3 per cent across the European Union. Nevertheless, year-on-year growth remained, with retail sales up 1.9 per cent in the eurozone and 2.0 per cent in the EU compared to December 2023.
Varying trends by sector
Retail sales showed considerable variation across sectors. In the euro area, sales of food, beverages and tobacco fell by 0.7 per cent on a monthly basis, while sales of non-food products (excluding fuels) actually increased by 0.3 per cent. Sales of fuels in specialised shops saw a modest increase of 0.2 per cent.
Within the EU, a similar trend was visible: sales of food, beverages and tobacco declined by 0.4 per cent, while non-food products showed an increase of 0.3 per cent. In contrast, sales of fuels in specialised shops fell 0.3 per cent.
Strong and weak performance by country
At the national level, there were significant differences. The largest declines in retail sales on a monthly basis were observed in Slovenia (-2.2%), Germany (-1.6%) and Poland (-1.5%). In contrast, Slovakia (+8.2%), Finland (+2.1%) and Spain (+1.4%) showed the strongest growth.
On a year-on-year basis, Slovakia (+10.0%), Lithuania (+8.7%) and Luxembourg (+8.4%) performed best. In contrast, Slovenia (-3.1%), Belgium (-2.4%) and Poland (-0.5%) recorded a decline in retail sales compared to December 2023.
Full-year growth
Despite the slight monthly decline in December, retail sales grew 1.0 per cent in the euro area and 1.3 per cent in the EU for the full year 2024. This growth was mainly driven by rising demand for non-food products and a steady increase in fuel sales in specialised shops.
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For the interior and home furnishing sector, this development means that consumers continue to invest in products for their homes despite economic uncertainties. In particular, rising sales of non-food products suggest continued demand for furniture, decoration and home accessories.
The coming months will reveal whether this growth continues into 2025. Eurostat's next figures will be published on 6 March 2025 and will provide further insights into retail dynamics within Europe.
Source: Eurostat