Turkiye's retail sales volume increases 31% in July 2023

Specific segments like textiles, clothing, and footwear also felt the upward trend, recording a 13.4 per cent surge on an annual rate, as per Turkstat.

When analysed on a month-on-month (MoM) basis, the general trend remained positive with retail sales volume increasing by 2.7 per cent in comparison to June 2023. The notable performer here was the category encompassing food and non-food items, except automotive fuel, registering a 5.9 per cent growth. However, it wasn't a universal rise as textiles, clothing, and footwear saw a slight dip of 0.1 per cent.

Shifting the focus to retail turnover, gauged with current prices, the YoY growth was observed to be even more substantial. A formidable rise of 93.3 per cent was noted in July 2023 when compared to July 2022. Non-food sales, steering clear of automotive fuel, were the star performers here as well, posting a staggering 124.3 per cent growth in the same period. The textiles, clothing, and footwear section followed suit, registering an increase of 96 per cent.

Furthermore, a positive sentiment continued to be reflected in the MoM analysis of retail turnover with current prices. July 2023 compared to its predecessor month showed a growth of 12 per cent. The non-food category, excluding automotive fuel, led this upward trajectory by recording a 13.5 per cent increase. The textiles, clothing, and footwear segment maintained the growth momentum, albeit at a slower pace, with a 3.5 per cent rise when compared to June 2023.

ALCHEMPro News Desk (DP)