Industry revenue of »retail sale of cultural and recreation goods« in Czechia 2011-2023
Although revenues from the retail sale of cultural and recreation goods in specialised stores are declining in many European countries including Switzerland, Denmark and Finland to name a few, owing to the growing e-commerce landscape, the Czech market is going strong. Revenues are projected to increase from 922 million U.S. dollars in 2011 to 2.7 billion U.S. dollars by 2023. This can be attributed to the wide varieties of products and deep discounting strategies offered by the brick and mortar retailers. Additionally, growth in the disposable income of consumers has also augured well for the sector.
The sector is divided into five segments and majority of the revenue is generated from the sale of sporting equipment. Newspaper and stationery retail is the second largest segment, followed by games and toys retail, books retail and finally, music and video recordings retail. All have witnessed strong growth over the years, apart from the latter, with revenues declining 60 percent between 2011-2019. This is due to the declining popularity of DVD’s and Blu-ray discs, owing to the growth of SVOD and OTT services.
The sector is divided into five segments and majority of the revenue is generated from the sale of sporting equipment. Newspaper and stationery retail is the second largest segment, followed by games and toys retail, books retail and finally, music and video recordings retail. All have witnessed strong growth over the years, apart from the latter, with revenues declining 60 percent between 2011-2019. This is due to the declining popularity of DVD’s and Blu-ray discs, owing to the growth of SVOD and OTT services.
