European Retail Sector Outlook 2024

RETAILERS REMAIN RESILIENT

NAVIGATING CHALLENGES AHEAD

Retailers continue to face challenging conditions. Despite the economic recovery post-COVID, consumers and businesses are grappling with additional hurdles. Elevated inflation, although on a downward trend, increased interest rates, and diminished confidence have exerted downward pressure on retail sales. Across Europe, retail trade volumes have remained relatively stagnant since the beginning of 2023, with expectations for a turnaround not emerging until the latter part of 2024.

CONSUMER CONFIDENCE (LT AVERAGE = 100)

110

Retailers continue to adapt to new and evolving market conditions. "

108

106

ITALY GERMANY

104

102

POLAND

100

98

96

EUROPE

NETHERLANDS

94

FRANCE

UK

92

SPAIN

90

19 DEC DEC 2019 JUN 2020 DEC 2020 JUN 2021 20 JUN 20 DEC 21 JUN

21 DEC DEC 2021

22 DEC JUN 2022 DEC 2022 JUN 2023 DEC 2023 23 DEC 22 JUN 23 JUN

Source: OECD

Source: OECD

4 RETAIL OUTLOOK 2024

THE TIDE IS TURNING DIVERSE | 5