Saturday, 10 May 2025
Retail trade in Slovakia flourished in 2024, with turnover increasing consistently throughout the year. The growth rate accelerated significantly in the last quarter, reaching an impressive 10.1% year-on-year increase in December, marking the best monthly result of 2024.
For the full year, retail turnover rose by 4.5%, one of the strongest performances since 2013. The growth was driven by large hyper- and supermarkets, as well as e-commerce, which saw significant expansion.
The December surge was fueled by a 42% increase in online sales and a 6.6% rise in turnover at hypermarkets and supermarkets. Specialized stores also performed well, contributing to the sector’s overall growth.
However, not all segments benefited from the retail surge. Sales of fuels and cultural/recreational goods (such as books, sporting goods, and toys) declined year-on-year. Meanwhile, accommodation services (+14.6%), motor vehicle sales and repairs (+15.8%), and wholesale (+2.8%) also saw positive results in December.
On a month-on-month basis, seasonally adjusted turnover in retail trade rose by 8.2% compared to November, while accommodation services increased by 7.8%. However, wholesale trade (-1.7%) and motor vehicle sales and repairs (-1.5%) recorded slight declines.
Retail Performance in 2024: Strongest Growth in Over a Decade
Throughout 2024, six out of nine monitored retail segments recorded positive growth. The most significant contributors included:
• Hypermarkets and supermarkets: +4%, achieving the third-best result in 12 years
• E-commerce (mail-order sales): +25%, supported by an expansion in the number of online retailers
• Specialized stores for household goods, textiles, shoes, drugstores, and pharmacies: +4-6%
• Food, beverage, and tobacco retailers: +16.5%, marking a highly successful year
Challenges for Fuel, IT, and Cultural Goods Retailers
While most sectors performed well, fuel sales, IT and communication equipment stores, and bookstores, sporting goods, and toy retailers faced year-on-year declines.
Among other trade-related sectors, motor vehicle sales and repairs grew by 3%, and accommodation services saw a 4.5% annual increase. However, food and beverage service activities (-2.1%) and wholesale trade (-1.5%) recorded declines.
The strong performance of the retail sector in 2024, particularly in the second half of the year, signals a resilient consumer market. Continued growth in e-commerce and large-format retail stores is expected to shape trends in 2025, while challenges remain for specialized sectors affected by shifting consumer behavior.
Source: Statistical Office of the SR
