Mixed retailers have seen a return to positive growth in 2021, following the decline in 2020 caused by the pandemic. However, this has not been enough to restore value sales to pre-pandemic levels, and broadly speaking the whole category has been in decline in both constant and current value terms over the review period; anticipated sales in 2021 align with this, despite the positive growth driven by returning consumers.
Department stores have been protected to a certain extent by a shift in consumer shopping habits, with many people preferring to hop in a single store for different products. This is seen as a safer way to shop, reducing potential exposure to COVID-19, then visiting many different stores.
In line with retailers across multiple categories in Latvia, mixed retailers are seeking to develop a stronger e-commerce offer; lockdown has shunted many consumers online, and e-commerce has become normalised for a far wider range of consumers as a result. However, variety stores face far more serious competition from the likes of stores like AliExpress or Amazon, which offer the same wide selection of goods at much lower price points.
Variety stores are set to see the strongest recovery over the forecast period. In part, this will be a reflection of the reopening economy and the resumption of pre-pandemic shopping habits.
Mixed retailers may need to rethink digital strategies. It is impossible for these players to compete in terms of offer with marketplace sites like Amazon or eBay; these offer the same idea of a large variety of products, but to a greater degree and at far lower price points.
The relaxation of lockdown measures throughout 2021 and the return to normal socialising should see department stores enjoy a lift in sales. Many consumers have put important social events o hold during the pandemic, such as weddings, graduation parties and important anniversaries.
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This is the aggregation of department stores, variety stores, mass merchandisers and warehouse clubs.
See All of Our DefinitionsThis report originates from Passport, our Mixed Retailers research and analysis database.
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