Retail is blooming: Upper Austria exceeds the national average!

Retail is blooming: Upper Austria exceeds the national average!

Oberösterreich, Österreich - In 2024, Austrian retail completed an astonishing turn. According to ORF , the sector recorded an increase in sales of around 1.8 billion euros, despite a total economy decline of 3.6 percent. Upper Austria in particular stands out with growth of three percent, which is above the national average. Food transactions have played a leading role, followed by drugstores, jewelry and flower shops as well as the electrical trade. The online trade also boome and grew by two percent.

positive forecasts from falling prices

The success reports for retail are no coincidence. Prices for energy and wholesale have dropped, which positively influences the buying behavior of consumers. Martin Sonntag, the chairman of the trade division, is optimistic: "The falling wholesale prices and the rising real income are good signs for the industry." These developments also dampen inflation, which was significantly below the general inflation rate in the food sector. While inflation was 2.9 percent, food prices only increased by 2.6 percent, such as Der SPIEGEL

With a strong focus on the food trade and an expanding online area, retail resilient and adaptable. These positive trends could serve as the basis to react to the challenging economic conditions of recent years and to promote stable growth. The trade industry is therefore in a position that could bring further optimizations and opportunities in the coming months.