The retail sector sold less in the third quarter of this year, but still achieved a higher turnover. According to the Central Bureau of Statistics (CBS), turnover of retail companies increased by an average of 4 percent on an annual basis. Sales volume, on the other hand, also fell by 4 percent. A large majority of retail companies are counting on a further rise in sales prices in the near future.
Turnover fell particularly in the food sector. There was a drop in turnover of 8 percent. The sales volume was 3 percent lower. Specialty shops such as butchers and cheese shops in particular had to contend with lower sales volumes. However, such businesses managed to keep turnover up to par compared to a year earlier. The specialty shops are known to have gained popularity since the corona pandemic. Especially when the catering industry kept its doors closed.
Supermarkets do convert more. But the large grocers also had to contend with decreased volumes. The increase in turnover was due to higher prices.
Drugstores and clothing and shoe stores saw both turnover and volumes increase. But the overall picture in the so-called non-food sector was one of decreased sales volumes. Furniture stores, do-it-yourself stores and shops selling consumer electronics and white goods, among others, had a lower turnover than a year earlier. Volume also declined in these branches. In furniture stores, the volume fell by 17 percent.
Retail online sales rose 3 percent year-on-year. There was still a decline in the first half of the year. Just like the specialty stores, online stores clearly sold more in corona time. The companies managed to maintain the higher sales volumes in the first half of 2021. This means that the comparison with the first half of this year is somewhat flawed.
According to Statistics Netherlands, 47 bankruptcies were declared in the retail sector in the third quarter of this year. That is more than double compared to a year earlier, when there were 19 bankruptcies. The number of bankruptcies is lower than in the same period before the corona pandemic. Retail companies accounted for approximately 10 percent of the total number of bankruptcies in the third quarter.
More industry turnover
The turnover of the Dutch industry in the third quarter was almost a quarter higher than in the same period a year earlier, Statistics Netherlands calculated. The statistics bureau states that the higher turnover was mainly caused by the industry charging higher prices for its products in order to compensate for the increased costs of raw materials, wages and energy, among other things.
Entrepreneurs in the manufacturing industry are generally more negative about the fourth quarter. Only one in ten thinks that turnover will be higher as a result. About half think sales prices will increase in the current quarter. Only one in nine entrepreneurs in the manufacturing industry thinks they have more staff, which is lower than in the past five quarters.
Turnover in the manufacturing industry was 22.3 percent higher. Turnover within the Netherlands increased by more than a quarter, while that abroad increased by just over 20 percent. Selling prices in the Netherlands were 23 percent higher than one year previously, and prices abroad were 27.3 percent.
Turnover increased in almost all main industries, but the increase was strongest in refineries and the chemical industry. This was due to the rise in oil prices. Turnover increases also exceeded 20 percent in the transport, food, luxury goods and paper sectors. The textile industry was the only one to see a slight drop in turnover, despite the fact that selling prices were also higher here.
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