Poland Mrpit Comment Tender

According to GUS data retail sales in constant prices in November 2020 were 5.3 lower than in November 2019. It is worth noting however that this result is much better than the market consensus -7.4 and MRPiT expectations -7. Compared to the level from October this year. sales also decreased by 5.3. On an increasing basis in the period of 10 months of this year. sales were lower by 3.1 y y.November was the third month in a row with an increase in the value of retail sales via the Internet in m m terms - by as much as 47.9 compared to the October level. This translated into a further increase in the share of e-sales in total retail sales to 11.4 the second best result this year. It should be noted that in November the increased turnover in the network was also due to the Black Friday and Cyber Monday sales.The largest increase in the share of online sales was shown by enterprises in the textiles clothing footwear group to 35.4 in November from 19.4 in October and press books other sales in specialized stores to 38.1 from 25.2 as well as in entities selling furniture radio household appliances to 22.5 from 12.8. The dynamically growing online purchases did not fully compensate for the decline in stationary trade - due to the specificity of many industries it is not possible - but they probably significantly limited them.The fall in retail sales in November in annual terms is the result of limiting the activities of shopping centers in order to stop the dynamically developing epidemic phenomena. The November decline in retail sales was much milder than that recorded during the closing of the mall in April which was then 22.9.In November sales declines were recorded in all categories of entities and the highest in enterprises selling textiles clothing and footwear - by 21.9. Significant decreases also concerned sales of solid liquid and gaseous fuels by 14.7 and motor vehicles motorcycles parts by 9.6. On the other hand the smallest decreases occurred in entities trading in furniture radio household appliances by 0.6 and food beverages and tobacco products by 2.9.December is traditionally a period of increased shopping activity of Poles in connection with the Christmas and New Year period. Trading Sundays of which there were three this year may also provide an additional impulse for retail sales. Therefore in the opinion of MRPiT it can be expected that the level of December sales will be similar to that of December last year.