Swedish retailers traders across all sub-sectors now see the future 'somewhat brighter', according to the latest data from Svensk Handel – a group that represents the retail and wholesale trade in the country.
The trade barometer for June increased by 1.2 points to 77.8.
However, the group has warned that the current state of trade is bleak in Sweden and the tough times are not yet over.
For 13 months in a row, Swedish traders have had a negative view of the next three months based on sales, the number of employees and the profitability of the business, Svensk Handel noted.
'Economic Indicators'
Sofia Larsen, CEO at Svensk Handel added, "The month's results are in line with what other overall economic indicators are now showing, i.e. an increase from low levels.
"We will leave it unsaid whether it is a turn we now actually see. We remain concerned that consumers' purchasing power will be further eroded."
Other Trends
Retailers look forward to summer as it is one of the most important months of the year in terms of sales from holidaymakers and tourists.
E-commerce retailers faced a challenging time in May as consumption declined despite regular customer flow.
The channel hopes to see slightly better sales as e-commerce increased by 1.0 units in this month's survey.
"It's not all doom and gloom in e-commerce. We see that consumers continue to shop online and there are companies that are doing really well. But many companies are competing in a global market and this requires that they are given the right conditions to compete on equal terms, which is not always the case," Larsen added.
She also added that the excise tax on electronics, where changes come into effect on 1 July, has no positive environmental impact, distorts competition and results in Swedish consumers having to pay more.
© 2023 European Supermarket Magazine – your source for the latest A-Brands news. Article by Dayeeta Das. Click subscribe to sign up to ESM: European Supermarket Magazine.
