In July 2024, the specialty retail sector in France saw a 2.5% decrease in activity compared to July 2023. This decline was primarily driven by sharp drops in specific sectors such as home goods (-7.5%) and apparel (-6%), which faced particularly severe declines in stores. Apparel sales were notably impacted by poor weather in northern France, while southern regions experienced better performance.
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Regional disparities are stark, with overall store traffic declining by 0.7% across France. However, Normandy (-8.8%), Hauts-de-France (-5.4%), and Brittany (-3.1%) saw significantly larger decreases.
Parisian stores have faced particularly severe declines, with an average drop of 9% compared to the national average decrease of 2.5%. The significant impact of the Olympics on Parisian retail activities was due to reduced tourism and increased telecommuting.
The overall impact on consumer behavior and regional differences will be assessed after the summer. The Federation of Specialty Retailers (Procos) emphasizes the need to monitor political developments and the impact of the Olympics on September's retail performance, a crucial month due to the back-to-school period. The sector's response to these challenges and the strategies adopted by retailers will be pivotal in shaping future outcomes.
More information:
Procos
www.procos.org