Iceland Mag

4 Reykjavik

Iceland Mag

General

Retail sales have reached pre-recession levels

By Staff

  • Consumerism on the rise The influx of travellers to Iceland is a big factor. Photo/Vilhelm Gunnarsson

The Centre for Retail Studies at Bifröst University published their findings that reveal retail sales last month were comparable to sales in June of 2007.

Prices for consumers goods such as groceries and other daily necessities have decreased by 1,4 % from the beginning of the year, furthermore revenue has steadily gone up. The main reasons for increased sales are due to increased consumption among the population as well as the influx of tourists, especially outside of Reykjavík.

Sales for clothing and shoes have decreased though since sales have risen 11-12%, whereas smartphone sales have increased by 34% and sales of electronics in general have increased by 26%.

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