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2025 Developments
Retail in Belgium demonstrated resilience in 2025 in a challenging macroeconomic environment, achieving value growth even as real GDP expansion remained subdued at 1% and inflation persisted at 2%. Growth was underpinned by the strong performance of supermarkets, which generated EUR19.4 billion in value, and the robust advance of retail e-commerce, expanding 4% year on year in current terms to reach EUR16.6 billion. Heightened consolidation accelerated the exit of smaller and legacy brands, allowing major players such as Ahold Delhaize to strengthen their networks and increase their share, supported by strategic moves like Sunday openings and digital investments. The attractiveness of Belgian retail is reinforced by the ongoing rise in consumer expenditure as a proportion of GDP and the forecast current value CAGR of 3% through to 2030. However, ongoing caution in discretionary spending and price sensitivity, especially outside food retail, remains a constraint. To succeed, brands must prioritise omnichannel integration, convenience-driven service models, and innovation around digital engagement. Meanwhile, non-food retailers need to differentiate through sustainability and circular economy initiatives to mitigate the growing threat from e-commerce and changing consumer priorities.
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Overview:
Understand the latest market trends and future growth opportunities for the Retail industry in Belgium with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
Data and analysis in this report provides further detailed coverage dedicated to the following key categories, where applicable:
- Convenience Stores
- Discounters
- Hypermarkets
- Supermarkets
- Traditional Grocery Retailers
- Apparel and Footwear Specialist Retailers
- Electronics and Appliance Specialist Retailers
- Health and Beauty Specialist Retailers
- Home and Garden Specialist Retailers
- Department Stores
- Variety Stores
- Warehouse Clubs
- Direct Selling
- Homeshopping
- Vending
If you're in the Retail industry in Belgium, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Retail in Belgium report includes:
- Analysis of key retail trends
- Detailed segmentation of offline and online retail sales
- Historic channel sizes (retail value sales, outlet counts, and selling space)
- Company and brand market shares (retail value sales and outlet counts)
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Retail in Belgium?
- Which are the leading retailers in Retail in Belgium?
- How are products distributed in Retail in Belgium?
- How is the rise of e-commerce and the expansion of modern grocery retail impacting traditional retail?
- How significant are discounters and private label in Belgium?
- To what extent are sales shifting towards digital channels?
- What is the long-term outlook for bricks-and-mortar?
- How is macroeconomic and political uncertainty affecting the retail industry?
- What types of retailers are seeing the fastest growth in digital sales?
- What is the future of retail?
Retail in Belgium
2025 Developments
Key Data Insights
Chart 1 Key Industry Trends for Retail
Ahold Delhaize Expands Store Network as Consolidation Accelerates Closures
Supermarkets Outperforms as Non-Grocery Struggles with Cautious Spending
Legacy Brands Exit as Colruyt and Ahold Delhaize Acquire Grocery Outlets
Chart 2 Cora to close all Belgian stores
Chart 3 Value Sales 2020-2030
Chart 4 Value Sales by Category 2025
Supermarket Players Accelerate Sunday Openings to Defend Premium Sales
Retail E-Commerce Outpaces All Channels as Food Delivery Surges
Chart 5 Analyst Insight for Retail
Apparel and Home Products Specialists Pivot to Sustainability Amid E-Commerce Rivalry
Chart 6 Forecast Value Sales 2020-2030
Chart 7 Forecast Value Sales by Category 2025-2030
Ahold Delhaize Outpaces Rivals through Sunday Openings and Digital Innovation
Chart 8 Q8 launches digital food market
Chart 9 Company Shares 2025
Chart 10 Brand Shares 2025
Informal Retail
Opening Hours for Physical Retail
Chart 11 Standard Opening Hours by Channel Type 2025
Seasonality
Christmas
Back To School
Chart 12 Economic Context for Retail
Chart 13 Real Gdp Growth 2020-2030
Chart 14 Inflation 2020-2030
Chart 15 Consumer Context for Retail
Chart 16 Population 2020-2030
Chart 17 Population by Generation 2025
Convenience Retailers in Belgium
Key Data Insights
Convenience Retailers Summary
Chart 18 Key Industry Trends for Convenience Retailers
Colruyt Capitalises on Consolidation to Strengthen Position
Q8 Leverages Digital Food Market to Capture New Demand
Chart 19 Q8 launches digital food market
Colruyt Accelerates Outlet Expansion after Acquiring Competitors
Chart 20 Value Sales 2020-2030
Chart 21 Value Sales by Category 2025
Intensifying Competition From Supermarkets
Supermarket Sunday Openings Intensify Rivalry for Share of Wallet
Chart 22 Analyst Insight for Convenience Retailers
Chart 23 Forecast Value Sales 2020-2030
Chart 24 Forecast Value Sales by Category 2025-2030
Colruyt Acquires Defunct Rivals to Accelerate Share Gains
Chart 25 Colruyt relaunches stores as CoMarkt
Louis Delhaize Exits Drive Acquisitions and Create Growth Openings
Chart 26 Company Shares 2025
Chart 27 Brand Shares 2025
Chart 28 Economic Context for Convenience Retailers
Chart 29 Real Gdp Growth 2020-2030
Chart 30 Inflation 2020-2030
Chart 31 Consumer Context for Convenience Retailers
Chart 32 Population 2020-2030
Chart 33 Population by Generation 2025
Supermarkets in Belgium
Key Data Insights
Supermarkets Summary
Chart 34 Key Industry Trends for Supermarkets
Delhaize Accelerates Sunday Openings to Capture Shifting Shopping Habits
Chart 35 Delhaize winning share through store expansion and Sunday openings
Delhaize Leverages Franchising and E-Commerce to Strengthen Its Lead
Chart 36 Value Sales 2020-2030
Delhaize Transforms Former Cora Sites to Capture Expanded Footfall
Albert Heijn and Delhaize Accelerate Digital Investment to Counter Store-Based Losses
Chart 37 Delhaize cuts click-and-collect fees in food ecommerce
Colruyt and Carrefour Respond to Sunday Trading to Defend Share
Chart 38 Forecast Value Sales 2020-2030
Ahold Delhaize and Jumbo Accelerate Share Gains as Colruyt Falters
Chart 39 Analyst Insight for Supermarkets
Chart 40 Company Shares 2025
Chart 41 Brand Shares 2025
Chart 42 Economic Context for Supermarkets
Chart 43 Real Gdp Growth 2020-2030
Chart 44 Inflation 2020-2030
Chart 45 Consumer Context for Supermarkets
Chart 46 Population 2020-2030
Chart 47 Population by Generation 2025
Hypermarkets in Belgium
Key Data Insights
Hypermarkets Summary
Chart 48 Key Industry Trends for Hypermarkets
Carrefour Negotiates Sunday Openings as Consumer Habits Shift
Chart 49 Cora to close all of its outlets
Chart 50 Value Sales 2020-2030
Carrefour Pursues Sunday Openings to Mitigate Ongoing Decline
Chart 51 Carrefour hypermarkets looking to open stores on Sunday
Physical Store Reinvention and Omnichannel Integration Remain Critical
Chart 52 Forecast Value Sales 2020-2030
Carrefour Consolidates Dominance as Cora Exits and Delhaize Steps in
Chart 53 Analyst Insight for Hypermarkets
Chart 54 Company Shares 2025
Chart 55 Brand Shares 2025
Chart 56 Economic Context for Hypermarkets
Chart 57 Real Gdp Growth 2020-2030
Chart 58 Inflation 2020-2030
Chart 59 Consumer Context for Hypermarkets
Chart 60 Population 2020-2030
Chart 61 Population by Generation 2025
Discounters in Belgium
Key Data Insights
Discounters Summary
Chart 62 Key Industry Trends for Discounters
Aldi Expands as Leader Price Exits, Reshaping Retail Competition
Chart 63 Industry Performance for Discounters
Chart 64 Value Sales 2020-2030
Lidl and Aldi Prioritise Store Expansion to Counter Premiumisation Shift
Chart 65 Lidl to recommence store network expansion
Aldi and Lidl Respond to Competition with Quality and Proximity Upgrades
Chart 66 Forecast Value Sales 2020-2030
Aldi Expands Outlet Network as Leader Price Exits
Chart 67 Aldi keeps expanding, while Leader Price closes all of its outlets.
Chart 68 Company Shares 2025
Chart 69 Brand Shares 2025
Chart 70 Economic Context for Discounters
Chart 71 Real Gdp Growth 2020-2030
Chart 72 Inflation 2020-2030
Chart 73 Consumer Context for Discounters
Chart 74 Population 2020-2030
Chart 75 Population by Generation 2025
Small Local Grocers in Belgium
Key Data Insights
Small Local Grocers Summary
Independent Store Closures Accelerate as Rising Costs Erode Viability
Lack of Category Diversification Limits Resilience Amid Downturn
Store Closures Reshape Local Food Access as Scale Advantages Prevail
Chart 76 Value Sales 2020-2030
Premium-Focused Independents Retain Value as Store Numbers Shrink
Rising Costs and Modernisation Accelerate Closures of Independents
Chart 77 Forecast Value Sales 2020-2030
Holland & Barrett Nv Sustains Modest Share as Fragmentation Persists
Chart 78 Analyst Insight for Small Local Grocers
Chart 79 Company Shares 2025
Chart 80 Brand Shares 2025
Chart 81 Economic Context for Small Local Grocers
Chart 82 Real Gdp Growth 2020-2030
Chart 83 Inflation 2020-2030
Chart 84 Consumer Context for Small Local Grocers
Chart 85 Population 2020-2030
Chart 86 Population by Generation 2025
General Merchandise Stores in Belgium
Key Data Insights
General Merchandise Stores Summary
Chart 87 Key Industry Trends for General Merchandise Stores
Action and Flying Tiger Win Price-Conscious Shoppers with Low-Cost Offers
Chart 88 Non-grocery discounters keep winning share
Chart 89 Value Sales 2020-2030
Chart 90 Value Sales by Category 2025
Action and Flying Tiger Expand Footprint to Drive Growth
Galeria Inno Shifts Strategy to Revitalise Performance
Chart 91 Galeria Inno diversifying away from apparel
Action’S Broader Assortment and Store Openings Attract New Shoppers
Chart 92 Forecast Value Sales 2020-2030
Chart 93 Forecast Value Sales by Category 2025-2030
Action Accelerates Expansion and Strengthens Lead through Differentiation
Chart 94 Analyst Insight for General Merchandise Stores
Chart 95 Company Shares 2025
Chart 96 Brand Shares 2025
Chart 97 Economic Context for General Merchandise Stores
Chart 98 Real Gdp Growth 2020-2030
Chart 99 Inflation 2020-2030
Chart 100 Consumer Context for General Merchandise Stores
Chart 101 Population 2020-2030
Chart 102 Population by Generation 2025
Apparel and Footwear Specialists in Belgium
Key Data Insights
Apparel and Footwear Specialists Summary
Chart 103 Key Industry Trends for Apparel and Footwear Specialists
H&M Repositions Store Experience to Counter Online Competition
Temu and Shein Capture Young Shoppers and Drive Legacy Decline
Chart 104 Success of Chinese platforms cannibalises apparel and footwear offline retailing
Chart 105 Value Sales 2020-2030
H&M Invests in Omnichannel as Store Closures Rise
Chart 106 H&M introduces new concept store
Apparel Players Add Beauty Corners to Attract Cautious Spenders
Chart 107 Forecast Value Sales 2020-2030
Chaussea Expands Rapidly as Legacy Players Exit
Chart 108 Analyst Insight for Apparel and Footwear Specialists
Chart 109 Company Shares 2025
Chart 110 Brand Shares 2025
Chart 111 Economic Context for Apparel and Footwear Specialists
Chart 112 Real Gdp Growth 2020-2030
Chart 113 Inflation 2020-2030
Chart 114 Consumer Context for Apparel and Footwear Specialists
Chart 115 Population 2020-2030
Chart 116 Population by Generation 2025
Appliances and Electronics Specialists in Belgium
Key Data Insights
Appliances and Electronics Specialists Summary
Chart 117 Key Industry Trends for Appliances and Electronics Specialists
Media Markt’S Urban Mobility Store Drives Premium E-Mobility Sales and Brand Strength
Chart 118 Media Markt launches European-first urban mobility store
E-Commerce Pure Players and Second-Hand Platforms Erode Offline Retail Share
Muted Economic Recovery and Cautious Spending Reinforce Rational Consumer Behaviour
Chart 119 Value Sales 2020-2030
Independent Players Lose Ground as Logistics Innovation Reshapes Competition
Chart 120 Analyst Insight for Appliances and Electronics Specialists
Chart 121 Forecast Value Sales 2020-2030
Media Markt Expands with New Store Concepts to Strengthen Its Lead
Chart 122 Media Markt expands store footprint and innovates
Chart 123 Company Shares 2025
Chart 124 Brand Shares 2025
Chart 125 Economic Context for Appliances and Electronics Specialists
Chart 126 Real Gdp Growth 2020-2030
Chart 127 Inflation 2020-2030
Chart 128 Consumer Context for Appliances and Electronics Specialists
Chart 129 Population 2020-2030
Chart 130 Population by Generation 2025
Home Products Specialists in Belgium
Key Data Insights
Home Products Specialists Summary
Chart 131 Key Industry Trends for Home Products Specialists
Brico’S Digital Innovation Boosts In-Store Experience as Legacy Brands Exit
Chart 132 Brico launches AI-powered chatbot to help customers in-store
Chart 133 Value Sales 2020-2030
Chart 134 Value Sales by Category 2025
Jysk Expands City Centre Stores to Sustain Proximity-Led Growth
Chart 135 Jysk expands in city centres
Brico’S Ai Chatbot and Digital Tools Reshape In-Store Engagement
Chart 136 Forecast Value Sales 2020-2030
Chart 137 Forecast Value Sales by Category 2025-2030
Jysk Expands City Centre Presence as Legacy Rivals Exit
Chart 138 Analyst Insight for Home Products Specialists
Chart 139 Company Shares 2025
Chart 140 Brand Shares 2025
Chart 141 Economic Context for Home Products Specialists
Chart 142 Real Gdp Growth 2020-2030
Chart 143 Inflation 2020-2030
Chart 144 Consumer Context for Home Products Specialists
Chart 145 Population 2020-2030
Chart 146 Population by Generation 2025
Health and Beauty Specialists in Belgium
Key Data Insights
Health and Beauty Specialists Summary
Chart 147 Key Industry Trends for Health and Beauty Specialists
Kruidvat and Medi-Market Expansion Erodes Pharmacy Share
Douglas's Omnichannel Strategy Boosts Footfall and Sales
Chart 148 Douglas's omnichannel strategy bears fruits
Chart 149 Value Sales 2020-2030
Chart 150 Value Sales by Category 2025
Kruidvat and Medi-Market Expansion Shifts Consumer Spend From Pharmacies
Chart 151 Kruidvat and Medi-Market keep expanding at the expense of pharmacies
Douglas and Ray Leverage Omnichannel Investment to Drive Engagement
Chart 152 Forecast Value Sales 2020-2030
Chart 153 Forecast Value Sales by Category 2025-2030
Chained Retailers Accelerate Share Gains as Independents Lose Ground
Chart 154 Analyst Insight for Health and Beauty Specialists
Chart 155 Company Shares 2025
Chart 156 Brand Shares 2025
Chart 157 Economic Context for Health and Beauty Specialists
Chart 158 Real Gdp Growth 2020-2030
Chart 159 Inflation 2020-2030
Chart 160 Consumer Context for Health and Beauty Specialists
Chart 161 Population 2020-2030
Chart 162 Population by Generation 2025
Vending in Belgium
Key Data Insights
Vending Summary
Packaged Food Players Drive On-The-Go Indulgence as Vending Rebounds
Food Vending Outperforms as Indulgence Trend Shapes Consumer Choices
Retail and Travel Partnerships Increase Vending Penetration and Consumer Reach
Chart 163 Value Sales 2020-2030
Chart 164 Value Sales by Category 2025
Red Bull and Lavazza Drive Vending Expansion through Targeted Investment
Food Vending Outpaces Others as Travel Locations Boost Demand
Smart Technology and Electronics Vending Redefine Consumer Convenience
Chart 165 Forecast Value Sales 2020-2030
Chart 166 Forecast Value Sales by Category 2025-2030
Coca-Cola Co and Lekkerland Reinforce Their Strength as Mid-Tier Rivals Shift
Chart 167 Company Shares 2025
Chart 168 Brand Shares 2025
Chart 169 Economic Context for Vending
Chart 170 Real Gdp Growth 2020-2030
Chart 171 Inflation 2020-2030
Chart 172 Consumer Context for Vending
Chart 173 Population 2020-2030
Chart 174 Population by Generation 2025
Direct Selling in Belgium
Key Data Insights
Direct Selling Summary
Chart 175 Key Industry Trends for Direct Selling
Yves Rocher Benelux Pivots to E-Commerce as Direct Sellers Struggle to Recruit
Chart 176 Direct sellers fail to recruit and activate new agents
Health and Beauty Agents Outperform as Fashion Direct Sellers Exit
Chart 177 Value Sales 2020-2030
Chart 178 Value Sales by Category 2025
Digital-First Sellers Strengthen Their Hold as Traditional Approaches Wane
Herbalife Leverages Health and Wellness to Outperform Rivals
Chart 179 Forecast Value Sales 2020-2030
Chart 180 Forecast Value Sales by Category 2025-2030
Herbalife Expands Sales Lead as Tupperware Exits and Mylène Declines
Chart 181 Analsyt Insight for Direct Selling
Chart 182 Company Shares 2025
Chart 183 Brand Shares 2025
Chart 184 Economic Context for Direct Selling
Chart 185 Real Gdp Growth 2020-2030
Chart 186 Inflation 2020-2030
Chart 187 Consumer Context for Direct Selling
Chart 188 Population 2020-2030
Chart 189 Population by Generation 2025
Retail E-Commerce in Belgium
Key Data Insights
Retail E-Commerce Summary
Chart 190 Key Industry Trends for Retail E-Commerce
Douglas and Media Markt Drive Omnichannel Innovation to Boost Engagement
Chart 191 Douglas and Media Markt develop successful omnichannel strategies
Temu and Shein Reshape Apparel E-Commerce with Aggressive Pricing
Chart 192 Value Sales 2020-2030
Temu Challenges Amazon as Price-Driven Growth Reshapes Online Leaders
Ai-Powered Shopping and Circular Models Reshape Consumer Behaviour and Margins
Chart 193 Surge of Temu and Shein intensifies competition in Belgium
Chart 194 Forecast Value Sales 2020-2030
Chart 195 Forecast Value Sales by Category 2025-2030
Amazon Accelerates Growth as Temu Disrupts Legacy Players
Chart 196 Analyst Insight for Retail E-Commerce
Chart 197 Company Shares 2025
Chart 198 Brand Shares 2025
Chart 199 Economic Context for Retail E-Commerce
Chart 200 Real Gdp Growth 2020-2030
Chart 201 Inflation 2020-2030
Chart 202 Consumer Context for Retail E-Commerce
Chart 203 Population 2020-2030
Chart 204 Population by Generation 2025
Country Reports Disclaimer
The following categories and subcategories are included:
Retail
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- Convenience Stores
- Forecourt Retailers
- Supermarkets
- Hypermarkets
- Discounters
- Warehouse Clubs
- Food/Drink/Tobacco Specialists
- Small Local Grocers
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- Department Stores
- Variety Stores
- Apparel and Footwear Specialists
- Appliances and Electronics Specialists
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- Home Improvement and Gardening Stores
- Homewares and Home Furnishing Stores
- Pet Shops and Superstores
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- Beauty Specialists
- Pharmacies
- Optical Goods Stores
- Health and Personal Care Stores
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- Bags and Luggage Specialists
- Jewellery and Watch Specialists
- Sports Goods Stores
- Traditional Toys and Games Stores
- Other Non-Grocery Retailers
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- Fashion Vending
- Health and Beauty Vending
- Appliances and Electronics Vending
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- Alcoholic Drinks Vending
- Hot Drinks Vending
- Soft Drinks Vending
- Tobacco Products Vending
- Foods Vending
- Home Products Vending
- Other Products Vending
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- Apparel and Footwear Direct Selling
- Personal Accessories Direct Selling
- Eyewear Direct Selling
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- Beauty and Personal Care Direct Selling
- Consumer Health Direct Selling
- Tissue and Hygiene Direct Selling
- Appliances and Electronics Direct Selling
- Drinks and Tobacco Direct Selling
- Foods Direct Selling
- Home Products Direct Selling
- Other Products Direct Selling
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- Apparel and Footwear E-Commerce
- Personal Accessories E-Commerce
- Eyewear E-Commerce
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- Beauty and Personal Care E-Commerce
- Consumer Health E-Commerce
- Tissue and Hygiene E-Commerce
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- Consumer Appliances E-Commerce
- Consumer Electronics E-Commerce
- Toys and Games E-Commerce
- Drinks and Tobacco E-Commerce
- Foods E-Commerce
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- Home Care E-Commerce
- Home and Garden E-Commerce
- Pet Care E-Commerce
- Other Products E-Commerce
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- First-Party (1P) Marketplace E-Commerce
- Third-Party (3P) Marketplace E-Commerce
- Grocery E-Commerce
- General Merchandiser E-Commerce
- Apparel and Footwear Specialist E-Commerce
- Appliances and Electronics Specialist E-Commerce
- Home Products Specialist E-Commerce
- Health and Beauty Specialist E-Commerce
- Leisure and Personal Goods Specialist E-Commerce
- Other E-Commerce Retailers
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Retail
Retail is the sale of new and used goods to consumers from a business for personal or household consumption from retail outlets, kiosks, market stalls, vending, direct selling and e-commerce. Retail is the aggregation of Retail Offline and Retail E-Commerce. Excludes specialist retailers of motor vehicles, motorcycles, vehicle parts. Also excludes fuel sales, foodservice sales, rental transactions, wholesale sales (e.g. Cash and Carry), and sales through cannabis dispensaries in markets where cannabis is sold legally. Sales value excluding or including VAT/Sales Tax. Retail also excludes the informal retail sector. Informal retailing is retail trade which is not declared to the tax authorities. Informal retailing encompasses (a) sales generated by unregistered and unlicensed retailers, i.e. retailers operating illegally, and (b) any proportion of sales generated by a registered and licensed retailer that is not declared to the tax authorities. Unregistered and unlicensed retailers operate predominantly (although not exclusively) as street hawkers or operate open market stalls, as these channels are harder for the authorities to monitor than permanent outlets. Activities in the illegal market, which is usually understood to refer to trade in illegal, counterfeit or stolen merchandise, are included within our definition of informal retailing. Activities in the “grey market”, which is usually understood to refer to trade in legal merchandise that is sold through unauthorized channels – for example cigarettes bought legally in another country, legally imported, but sold at lower prices than in authorized channels – will be included as informal retailing if no tax is paid on sale by the retailer. However if the retailer pays tax – for example on cigarettes bought legally in another country but sold at a lower price than standard – the sale is included within formal retail.
See all of our definitions
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