In November, Italian retail sales increased by 0.4% and forecasts suggest this growth trend will continue as winter sales kick in.
ADVERTISEMENTItalian retail sales grew by 0.4% in November compared to the previous month, primarily influenced by the performance of non-food items, according to the Italian National Institute of Statistics (Istat).
Istat reported a 1.5% unadjusted year-on-year sales increase in the same month.
In a year-on-year comparison, cosmetic and personal care items showed the most substantial growth (5%), while electric household appliances and audio-video equipment experienced the most significant decline (-4.1%).
However, while the sales value has increased, the number of products sold has dipped: volume sales fell by 2.2% in November.
According to Italy's EU-harmonised index (HICP), consumer prices rose by 0.6% in November compared to the previous year.
Time for the sales
Italy's winter sales have already kicked off this January and are scheduled to continue for the following two months, which retailers hope will provide a boon for the economy.
According to Confcommercio-Imprese per l'Italia, the general confederation of Italian business, approximately 15.8 million families will take part in these sales. The average person is expected to spend around €137, resulting in a projected turnover of €4.8 billion.
"Italians' willingness to spend has remained steady," said Giulio Felloni, president of Federazione Moda Italia-Confcommercio. "This comes after a challenging year in which the fashion industry played a crucial role in reducing and controlling inflation."
