Most Shops Expecting Growth in Turnover This Year ({{commentsTotal}})

Two-thirds of shops have banked on an increase in turnover this year, a poll by Swedbank reveals.

Retailers are expecting on average an increase of 5.7 percent in turnover, while the actual increase last year was 5.9 percent, the bank said on Thursday.

Of the 145 shop-owners who expect growth, 57 percent said they are hoping to expand their activities, while 43 percent said they are hoping for an increase in market volume.

Retail volumes are approaching 2007 levels, when previous records were set, but retailers say growth is hampered by too much competition (28 percent of owners), low purchasing power (26 percent) and market size limitations (18 percent). Lack of staff (14 percent) and high rent (11 percent) were also mentioned as concerns.