Modern Food Retail
The performance of food retail sales was not uniform in the year. This evolution was influenced by the resumption of inflation from March onwards, by the effects of the sharp increase in the minimum wage, and by the decline in consumer confidence.
In January 2024, the minimum wage in Poland increased to 4,242 złoty, with a further increase in July to 4,300 złoty. These increases have resulted in greater purchasing power for households but have had a severe impact on increased costs for companies. On average, the minimum wage rose by 20.5% in 2024, following a 17.8% increase in 2023.
POLAND – Food Retail Sales Index & Food Inflation
Current Prices
The Polish food retail sector is expected to experience moderate growth in 2025, with persistent challenges. Price competition should remain intense, prompting retailers to maintain promotional strategies to keep competitiveness. Alongside this, a growing focus on customer experience and personalisation of the offer is expected to strengthen loyalty.
Health and Beauty Retail
In 2024, the health and beauty segment in Poland proved to be more resilient than the retail sector as a whole. Inflation in personal hygiene and cosmetic products was significantly lower than in 2023.
At current prices, the health and beauty retail index remained robust, reflecting significant growth in volumes, as prices did not have the same influence on the value of retail sales as in the previous year.
POLAND – Health and Beauty Retail index & Inflation on personal care and wellness items and beauty products
Current Prices
Sources: Banco de Portugal Economic Bulletins; Portuguese Ministry of Finance; Portuguese Statistics Office (INE); Bank of Poland Economic Bulletins; Central Statistical Office (GUS); Banco de la República (Colombian Central Bank); Colombia National Administrative Department of Statistics (DANE); Fedesarrollo; PMR Market Research; Fitch BMI; BMP; ISBIZNES; PORTAL SPOZYWCZY; Hatimeria; AHRESP, Distribuição Hoje.
Note: All macroeconomic data presented in this subchapter are based on the latest available information at the closing date of this report.