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Steepest annual decline in sales of electronic products

Electronics. Source: ERR

Retail turnover has plummeted, with the most significant declines have been in construction and industrial goods, but with almost no decline in foods.

The electronics industry is one of the biggest losers, with sales down 20 percent year-over-year.

"Instead, we could say that the situation have degraded to the point where it was before Covid," Jan Andre, director of purchasing at Euronics, said, "our industry received a boost during the pandemic which was followed by a substantial growth and intense purchasing."

Computers and telecommunications products are particularly affected by the decline.

"As people needed to furnish their home offices there was a special emphasis on this, possibly even employer subsidies, which boosted the sales of laptops, monitors and keyboards in particular," Andre explained.

This year, bookstores have sold roughly a tenth fewer items, but because prices have risen so dramatically, their revenues are virtually the same.

"Retail and wholesale sales declined, but we have recovered on the web and added more reader platforms," said Rain Siemer, chief executive officer of Rahva Raamat. He explained that the company has just released an audiobook and e-book application, which is drawing new readers back to the business, thus offsetting the post-pandemic decline.

There are a few products experiencing significant declines in grocery store sales. "While the dairy category as a whole is essential to the customer, other nicer treats are not as crucial for the customer," the sales and marketing director of Maxima, Jaanika Terasmaa, explained. She reported a 20 percent drop in sales for non-essential products.

Maxima has raised the amount of deals it offers in response to rising demand for cheaper products at discounted pricing. Furthermore, she said, people no longer buy. e.g., rapeseed oil or washing products in advance, but only when they need them.

"The price of local product can be very high and sometimes too costly for a portion of the consumer group; so the local produce, shall we say, 'drops' as well," Terasmaa said.


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Editor: Merili Nael, Kristina Kersa

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