Mediafax (Mediafax)
Markets  |  August 03, 2012 10:30:05

Analysts: This year's sales traders reflect the most economical mode of Czech households


PRAGUE (MEDIAFAX) - The majority of Czech households began during the first half of this year to save significantly in response to poor economic situation. This corresponds to sales and traders in the period, analysts said on Friday addressing agency Mediafax following the quarterly results of retailing in the country.

"People due to the prolonged economic uncertainty, limiting purchases and prefer cheaper alternatives for most goods. It benefits especially for electronics, sporting goods and household equipment internet retailers whose business model allows prices to clot more than capable of most stone vendors," said retail expert from PwC Audit Limping Paul.

This year saves for food retailers whose long-term decline year on year sales. A similar scenario is likely, according to him for the rest of the year. Only positive outlook for next year and again revive the labor market more open wallets of consumers. "During the summer, while consumers with a great deal successfully emptied shelves range due to significant reductions, but profit margins and thus profits traders suffer," he concluded Limping.

According to analyst Jiri Simek Citfin groups in the development of sales reflected continued investigation of consumers and the fact that due to inflation, real wages are falling. "Unemployment continues to hold over eight percent and the decrease can not be counted. Savings continues in the state. Consumers are buying in and very joyous prospects.This year, apparently waiting for the Czech economy and no decrease for next year can not wait with more significant growth, "said Simek, with the additional threat of deteriorating consumer sentiment in the euro area's development.

Chief economist at Patria Finance analyst David Marek is convinced that consumer spending apparently did not contribute to GDP growth in the second quarter of this year. According to him, demand remains weak and wage growth probably slowed even further, suggesting data collection of taxes and social premiums.

According to economist Mark are also people are still cautious, which is manifested as an increase in savings rate and a fall in consumer loans. "The new economic news from the world dominated by negative information. For the whole of this year we expect a decline in retail sales by 0.5 to 1.0 percent, 'Marek estimated.

For the entire second quarter 2012, sales in the automotive segment declined year on year in real terms by 2.4 percent (in the second quarter of 2012 there were two working days less) in the automotive segment by 4.2 percent and the retail sector alone (including the sale of fuel weight) by 1.5 percent. Sales of non-food goods stagnated, for fuel and food fell (by 4.2 percent, or 2.6 percent).

Jan Soukup, soukupj@mediafax.cz

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