Specialized retail turnover up slightly by +2.2% in October 2024
The turnover of stores of specialized retail brands grew by + 2.2% in October 2024 vs October 2023, reveals the latest barometer published by Procos. The different sectors showed an increase in store sales on a like-for-like basis, with the exception of home furnishings (-2%). Specialized food (+9.2%) and beauty and health (+8.2%) ended the month with a significant increase in store sales compared to October 2023, as did, to a lesser extent, the sector sport at + 3.1%.
Slight increase in in-store sales
Three sectors experienced very low increases in in-store sales compared to October 2023: + 1.5% for clothing, + 0.5% for the gifts-culture-toys sector and + 0.3% for catering. . The changes in the latter two are significantly lower than that of inflation for October (+1.2% inflation according to INSEE).
Store attendance was up slightly in October (+1.5%) in line with changes in point-of-sale turnover. Note that city center stores saw their footfall increase by +3.5% while those on the outskirts suffered a contraction of –1.9%.
E-commerce is not taking off
The increase in web sales was on average higher than that of store sales for specialized retail at +4.1%. Procos, however, observes the sharp declines in web sales in the home furnishings (- 8.3%) and catering (- 6.1%) sectors compared to October 2023. Cumulative from January to October 2024 vs. the same period in 2023, store sales increased by +2%.
Clothing is very slightly positive (+0.9%), i.e. growth significantly lower than inflation, and the home furnishings sector is down -2% over the period with contractions still very marked in certain segments such as furniture for example. A sign that the housing crisis continues to have a strong impact on these sectors despite the fall in interest rates.
C.This
Morocco
