Retailing

High inflation led to a deterioration in consumer purchasing power in 2023 with many consumers who had the additional financial burden of mortgages and other loans being particularly badly affected. Instalments increased significantly as a result of…

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…

Qatar’s affluent population makes the country an attractive prospect for international retailers, especially given the popularity of shopping as a leisure activity and the preference for global brands. However, the country’s low population and the…

Grocery retailers dominate sales in 2023

Retail in Saudi Arabia continued to experience positive growth in current value terms in 2023 with the end of the pandemic and improved consumer confidence helping to encourage spending. Although the Saudi economy actually contracted in 2023 due to a…

Retail e-commerce continued to see more dynamic growth than offline retail in 2022 in current value terms with companies continuing to invest in setting up, expanding and improving their online presence. Local and international retailers have been…

Retail in Singapore has left the impact of the pandemic behind following the easing of restrictions, and has continued with resilient, albeit slower, growth in 2023. The full-scale resumption of social activities and the reopening of international…

It was a poor trading year for retail in Slovakia in 2023. With inflation still being high, as well increasing interest rates leading to higher mortgage payments, consumers felt the pinch. As such, there was only marginal growth in current value…

Retail in Slovenia is being supported by the return to out-of-home lifestyles in 2022, following the pandemic restrictions which stretched into 2021. Retail e-commerce is the big winner, as this channel was notably enhanced by the era of the pandemic…

In 2023, the retail landscape in South Africa remained challenged by the operating environment, translating into slow economic growth, which left unemployment at a relatively high level. As inflation remained above the South African Reserve Bank…

In 2023, retail in South Korea maintained solid current value growth both online and offline, with growth also returning to outlet numbers in the offline space. Value increases were seen across most channels, although growth in outlet numbers was…

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…

Sri Lanka experienced an economic crisis in 2022 with hyperinflation and severe import restrictions due to a lack of dollars. Many retailers struggled to meet demand with the country experiencing severe shortages, including for key products such as…

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 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 2023 presented a mixed landscape in Taiwan, marked by economic challenges as the country grappled with a recession in the first quarter. This downturn was primarily attributed to a decline in exports and subdued global demand for…

Rising incomes and urbanisation are broadening the appeal of modern retailing, with more consumers able to access these channels. However, informal retail remains strong, while poor infrastructure is hindering retail development. Younger consumers…

Thailand’s retail industry in 2023 continued to evolve and improve, responding to growing demand from consumers with convenience as a key driver. The wholesale and retail sectors, along with the vehicle maintenance and household goods sectors, have…

Retail in the Czech Republic was heavily affected by the war in Ukraine, as energy costs soared and inflation climbed to double digits, a trend that has continued into 2023. The Czech economy has weakened substantially with consumers struggling to…

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…