Polish retail sales declined 3.1% y/y in constant prices in February, versus a fall of 6% y/y in the preceding month,  statistics office GUS said on March 19.

The easing in the turnover decline is a result of the re-opening of malls after a temporary lockdown in January. Still, the overall sentiment in the retail segment remains weak due to the coronavirus (COVID-19) pandemic, which has Poles spending less, opting to save up money instead in anticipation of difficult times.

A rebound in retail sales is expected only in the second half of the year, Bank Millennium notes. “It will be a period of dynamic catching up pent-up consumer demand in line with the decreasing risk of infection and a gradual opening of the service sector,” the bank said in a comment on the GUS figures.

For now, retail is in for more problems, as the government ordered a new lockdown, starting on March 20 and expected to last until April 9 at least. Poland remains in the grip of the third wave of the pandemic, with the daily number of new infections exceeding 25,000.

Four out of the eight main retail segments suffered y/y turnover falls in constant prices in January, the breakdown of the data shows.

Turnover in the fuels segment fell 14.8% y/y (compared to a 16.4% y/y decline in January). Sales of food, drinks, and tobacco products and pharmaceuticals also declined, as did sales in the  “other” category.

On the positive side, sales of cars, motorcycles, and parts grew 1% y/y in the second month. Clothes sales expanded 12.9% y/y, while sales of furniture, audio and video equipment, and domestic appliances – much of which is done online – grew 9% in y/y terms. 

Overall, the share of online shopping diminished to 8.6% of overall sales in February, from 9.8% in January, GUS said.

In monthly terms, retail sales grew 3.5% in constant prices in February after collapsing 24.9% m/m the preceding month. In current prices, turnover declined 2.7% y/y and grew 4% m/m in February.

Seasonally adjusted, retail sales grew 5.3% m/m in February (-1.4% m/m in January). GUS does not provide seasonally adjusted y/y data.