The Western European retailing industry is undergoing transformative changes that are creating new opportunities for retailers. This report covers key trends that retailers must understand to grow their businesses within Western Europe: the changing consumer, the hunt for value, the rise of digital commerce, groceries moving online, and the importance of sustainability.
Consumers in Western Europe are budget-savvy, hyperconnected, urban, experience-led, and sensitive to sustainability. Retailers must adapt to consumer needs to survive.
The median household income will continue to grow slowly in most countries while a few countries will experience declines. As a result, Western European shoppers are becoming more savvy in their purchases, driving sales growth in discount, store-based channels, such as discounters, variety stores and warehouse clubs.
Internet access is almost universal in Western Europe, with smartphone adoption likely to reach 90% in 2023. Consumers are using these tools for more of their purchases, favouring mobile and cross-border commerce in future.
While the region is already highly urbanised, cities will continue to grow. The industry is doing its best to remove the barriers, especially around logistics, to help spur growth.
More Western Europeans are valuing spending on experiences over things. This means that retailers need to embrace experiences as a part of their value proposition. Restaurants are at the forefront of this.
Consumers are becoming more aware of how their consumption impacts the environment and communities. As a result, they and their governments expect retailers to embrace sustainability.
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE! Home Page