Over the three months leading to April 2024, the value of sales saw a slight decline of 0.2 per cent, and the volume of sales dropped by 0.4 per cent compared to the previous three-month period. This marks a notable shift for the sector, which had been experiencing growth since March 2021.
On a year-on-year (YoY) basis, the value of retail trade in April 2024 contracted by 1.9 per cent, with sales volume dropping by 3.3 per cent. The YoY comparison highlights a 3.8 per cent decrease in large-scale distribution, a 0.5 per cent decline in small-scale distribution, and a 0.8 per cent fall in non-store retail sales.
Despite the overall decline, there was a positive note for online sales, which rebounded in April 2024 following a decline in March. Online sales increased by 7.4 per cent compared to April 2023.
ALCHEMPro News Desk (DP)
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