Sales in retail outlets decline for the seventeenth straight month in November
In November 2021, Spain's retail sector faced a challenging month as sales dropped across various commercial formats. According to the Retail Sales Index (RSI), the drop was 7.2% compared to the same month last year, marking the worst result recorded by the RSI in November.
The decline affected small chains, big-box stores, and single-location businesses, with sales falling by 7.6%, 9.8%, and 8.3% respectively. Big-box stores suffered the most, experiencing an interannual decrease of 9.8% in sales.
In the category of personal equipment goods, where fashion products are included, sales fell by 8.4%. This decline was felt particularly in small chains and single-location businesses.
Despite the overall drop, it's worth noting that the retail sales decline in November was less than the previous month's drop. This could be a sign of recovery, albeit a slow one, for the sector.
On a positive note, employment in the retail sector saw a slight decrease. In big-box stores, small chains, and single-location businesses, employment decreased by 3.2%, 3.1%, and 0.4% respectively. However, large chains bucked the trend, increasing employment by 1.2% compared to November 2010.
The drop in retail sales in November occurred in Spain, with sales seeing a 5.7% drop by November this year, marking the seventeenth consecutive month of declining consumption.
It's important to note that the largest Spanish chain stores that experienced a 9.8% revenue drop in November 2021 are not named in the provided search results, nor are the names of their CEOs or managing directors mentioned.
Retail sales in Spain stabilised in October, offering a glimmer of hope for the sector. As we move forward, it will be interesting to see how the sector recovers from this setback and whether the trend of declining sales will continue in the coming months.
