Western Europe

Small local grocers in Germany recorded the lowest current value growth among all grocery retailing channels in 2023. This corresponded to a strong decline in constant terms due to the historically high inflation during the year; food and…

As the cost of groceries continued to increase in 2023, small independent grocery stores faced intensified competition from chained outlets. Small local grocers suffer from limited bargaining power and struggle to manage rising operational expenses…

Small local grocers in Finland remained the smallest grocery retail channel in Finland in 2023. Its significance within grocery retailers has been on a slow decline for a long time, although there was a slight increase in value sales in 2022/2023 due…

As life returned to normal in Denmark in 2023, consumers continued to shop more in stores and small local grocers benefited from this development. However, small local grocers also faced growing competition from the major chains and especially from…

Small local grocers in Belgium registered only modest growth current value terms in 2023. Moreover, this was largely due to inflationary pressures, with the number of outlets continuing to decline. With players facing rising operating costs, these…

Small local grocers was also characterised by a reluctance to spend among consumers in 2023, as inflation and the cost of living have risen sharply since the outbreak of the Ukraine crisis in spring 2022. Sales rose sharply again in 2023, although…

Retail registered both an increase in current and constant value sales in 2023. The Turkish economy improved somewhat in 2023, as significant interest rates hikes and significant currency devaluation dampened inflation. However, inflation remained…

The digital revolution has been rewiring retail for years. The COVID-19 pandemic accelerated this transition as e-commerce became the default setting for many homebound consumers. The crisis-inspired surge in e-commerce is leading to a permanent…

The digital revolution has been rewiring retail for years, leading to new business models, commerce ecosystems and channels for reaching and engaging consumers. The COVID-19 pandemic accelerated this transition, as e-commerce became the default…

In 2023, soaring inflation rates, an ongoing cost-of-living crisis, low consumer confidence and limited spending subdued the retail industry in the UK. Consumers continued to downgrade product purchases to mitigate the negative effects of the…

Retail in the Netherlands saw positive growth in current value terms in 2023 but this was largely reflective of the impact of inflation and price rises rather than an increase in consumption. Many channels actually reported declining volume sales in…

Retail sales in Switzerland in 2023 saw minimal current value growth, which was solely driven by price increases. Paradoxically, this was also one of the main limiting factors on demand. Substantial increases in the cost of living made local…

Retail in Sweden continued to be affected by the challenging Swedish macroeconomic environment in 2023, characterised by negative real GDP growth and high inflation rates. The high inflationary pressure on prices especially affected groceries, but…

Retail in Spain continued to be impacted by high inflation in 2023, with high energy and fuel prices putting pressure on operators and leading to rising prices for the consumer. The Spanish government tried to mitigate the increase in prices by…

Retail in Portugal in 2023 continued to record positive retail value growth despite consumers' loss of purchasing power. High inflation rates, combined with the return of tourism, bolstered retail value growth, which was particularly high for…

Inflationary pressures have led to stronger price competition in Norway’s retail landscape. Food price increases have been a notable issue for grocery retailers resulting in intense competition between supermarkets and discounters. Players have come…

High inflation rates continued to negatively affect producers, distributors, and most importantly consumers in 2023, despite inflation being slightly more stable than in the previous year. Indeed, as issues in the supply chain, logistical space, and…

Retail in Ireland continued to be impacted by inflationary pressures and high utility costs through 2023, affecting consumers and retailers alike. That said, we did witness some easing of pressures later in the year, both in product pricing and…

Retail faced notable challenges in Greece in 2023. Inflation was - and continues to be - very high and prices were constantly rising. Retailers, regardless of industry, were forced to raise their prices as they could not absorb the increases in the…

In 2023, retail in Germany displayed resilience amid challenging economic conditions, with varying performances across different channels. While inflationary pressures continued to influence consumer spending patterns, a gradual stabilisation in the…