Biznes Fakty
Retail sales (March 2025). New CSO data from stores
According to the Central Statistical Office, retail sales at constant prices in March 2025 were down 0.3 percent compared to the previous year. Meanwhile, sales at current prices in the last month rose by 0.6 percent year-on-year.
In comparison to the previous month, retail sales at constant prices saw a rise of 14.3%.
The consensus produced by PAP Biznes anticipated a 0.4% rise in retail sales at constant prices year-on-year and a 14.9% increase month-on-month.
For current prices, economists surveyed by PAP Biznes projected a 1.6% increase year-on-year.
Sales by groups
In March 2025, a decline in retail sales (at constant prices) was noted among the categories of goods with a significant share in „total” retail sales compared to the same month in 2024: – „other” (down by 12.2%), – „food, beverages, and tobacco products” (down by 9.4%), – „solid, liquid, and gaseous fuels” (down by 0.1%).
An increase in sales was recorded in the following categories: – „motor vehicles, motorcycles, parts” (up by 18.4%), – „furniture, electronics, household appliances” (up by 12.9%), – „textiles, clothing, footwear” (up by 6.7%), – „pharmaceuticals, cosmetics, orthopedic equipment” (up by 5.0%), – „press, books, other sales in specialist stores” (up by 1.0%).
Online retail
As reported by the Central Statistical Office, the value of online retail sales at current prices in March 2025 was 13.1% greater than a year prior, with the share of online sales in „total” sales rising from 8.0% to 9.0%.
„Among the groups with a notable share of online sales, an increase was seen in the sectors of 'textiles, clothing, footwear’ (from 23.0% a year ago to 27.2%) and 'furniture, electronics, household appliances’ (from 17.1% to 17.9%, respectively). Conversely, a decline was noted in the group 'press, books, other sales in specialized stores’ (from 23.3% to 19.9%)” – the release stated.
Sales in March 2025. Comments
Analysts at Bank Pekao commented on social media that „this reading from March is the least concerning. Two factors influenced sales: the late Easter reduced food sales, while sales of durable goods are showing a solid recovery.”
They also remarked: „Overall, what has been revealed in economic sentiment surveys since the start of the year is evident in the tangible data. The consumer is back in the market.”
The ING Economics Poland team noted in their commentary that „the March figures were affected by the holiday effect.” „In 2024, most Easter expenditures fell in March, which inflated the base, while this year Easter occurred in mid-April. However, consumers are still exercising caution,” they added.
„To complement the relatively disappointing data for March – retail sales experienced a 0.3% year-on-year decrease. It appears that consumption growth has decelerated during the entire quarter,” the mBank Research team indicated.
„The entire quarter also suggests that GDP growth will remain close to the rate observed at the end of the previous year,” the commentary concludes.
