2023
0
Euro Retail Trends – Spring 2023
2023-04-05T04:03:36+01:00
OX1157505
2195
162144
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Report
en_GB
“While each market has experienced the pressures of 2022 and early 2023 differently, the common factor has been a decline in consumer confidence and this has weighed heavily on demand…

Euro Retail Trends – Spring 2023

£ 2,195 (Excl.Tax)

Description

“While each market has experienced the pressures of 2022 and early 2023 differently, the common factor has been a decline in consumer confidence and this has weighed heavily on demand and, in most markets, created an underlying volume decline in retail sales. Overall inflationary pressures looked to have peaked in the EU, but stronger than expected inflation in Q1 2023 has set back some optimism and added further pressure to European households and retail spending.”

– Nick Carroll, Category Director – Retail Insights

Key issues covered in this Report:

  • Analysis of Market environment and European Retail Sales Performance – Quarter 1 2023
  • Consumer sentiment and retail sales across leading European countries
  • Launch Activity and Innovation for Quarter 1 2023
  • Special Focus – Amazon in Europe

Table of Contents

  1. Key Findings

    • Inflation looks to have peaked but pressure will not relent in the short term
      • Figure 1: European Union (27 countries) Inflation, overall index (HCIP), 2022-23
      • Figure 2: Europe: Key markets, HCIP/CPIH inflation, 2022-23
    • Cost of living crisis takes a toll on financial wellbeing across Europe
      • Figure 3: Europe: Financial wellbeing by country, January/February 2023
      • Figure 4: Future financial confidence, 2023
    • Inflation hits underlying demand in Europe
      • Figure 5: European Union (27 countries) Retail Sales, calendar adjusted non-seasonally adjusted in value and volume, 2022-23
    • Launch activity and innovation for Q1 2023
    • UK: George at Asda launches clothing collection for young people with disabilities
      • Figure 6: George at Asda Easy on adapted clothing range, 2023
    • UK: Sephora to open its first retail store in the UK on March 10th
      • Figure 7: Sephora Westfield, 2023
    • Germany: P&C to open a sustainable department store in Berlin
    • Germany: H&M partners with German recycling group Remondis to reduce its environmental footprint
    • Italy: Gucci launches Circular Hub
    • France: France gets a new discount supermarket chain
    • Spain: Eroski launches new range of own-brand vegan products
  2. European Retail Sales

    • Inflation looks to have peaked but pressure will not relent in the short term
      • Figure 8: European Union (27 countries) Inflation, overall index (HCIP), 2022-23
      • Figure 9: European Union (27 countries) Inflation, overall index (HCIP), highest and lowest report levels in January 2023, 2022-23
    • Inflation hits underlying demand in Europe
      • Figure 10: European Union (27 countries) Retail Sales, calendar adjusted non-seasonally adjusted in value and volume, 2022-23
    • Q4 performance: despite soaring inflation Turkey records strong volume growth
      • Figure 11: European Union (27 countries) Retail Sales, calendar adjusted non-seasonally adjusted in value and volume, highest and lowest report value growth in Q4 2022
  3. UK: Consumer Sentiment and Retail Sales

    • Consumers’ financial wellbeing has fallen from the highs of 2021
      • Figure 12: Household financial wellbeing index, 2016-23
      • Figure 13: Future financial confidence index, 2016-23
    • Value growth slows in 2022, masking a record volume decline
    • After a brief December respite, deeper volume declines return in 2023
      • Figure 14: All retail sales (excluding fuel), non-seasonally adjusted year-on-year performance by value and volume, 2022-23
    • Store-based retailers are outperforming online-only rivals
      • Figure 15: All retail sales (excluding fuel), non-seasonally adjusted year-on-year performance by value and volume, by core category, 2022-23
  4. France: Consumer Sentiment and Retail Sales

    • Current confidence broadly stable, but outlook on the future worsens
      • Figure 16: France: Financial wellbeing, 2022-23
      • Figure 17: France: future financial confidence, 2022-23
    • Volume sales remain positive in 2022, but second half points at tougher market
      • Figure 18: France: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume, 2022-23
      • Figure 19: France: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume by key category, 2022-23
  5. Germany: Consumer Sentiment and Retail Sales

    • Financial wellbeing slumps as cost of living crisis takes hold
      • Figure 20: Germany: Financial wellbeing, 2022-23
      • Figure 21: Germany: future financial confidence, 2022-23
    • A mixed first half gives way to a difficult second in the retail sector
      • Figure 22: Germany: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume, 2022-23
      • Figure 23: Germany: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume by key category, 2022-23
  6. Italy: Consumer Sentiment and Retail Sales

    • Italian financial wellbeing falls in 2022
      • Figure 24: Italy: Financial wellbeing, 2022-23
      • Figure 25: Italy: future financial confidence, 2022-23
    • Strong first half performance means volume sales were broadly flat in 2022
      • Figure 26: Italy: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume, 2022-23
      • Figure 27: Italy: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume by key category, 2022-23
  7. Spain: Consumer Sentiment and Retail Sales

    • From a low base financial wellbeing in Spain has been broadly stable
      • Figure 28: Spain: Financial wellbeing, 2022-23
      • Figure 29: Spain: future financial confidence, 2022-23
    • Robust demand in the face of rising prices as Spanish retail recovers
      • Figure 30: Spain: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume, 2022-23
      • Figure 31: Spain: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume by key category, 2022-23
  8. Poland: Consumer Sentiment and Retail Sales

    • Financial wellbeing holds up despite pressure
      • Figure 32: Poland: Financial wellbeing, 2022-23
      • Figure 33: Poland: future financial confidence, 2022-23
    • Continued strong performance from Polish retail
      • Figure 34: Poland: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume, 2022-23
      • Figure 35: Poland: Retail Sales, calendar adjusted non-seasonally adjusted performance in value and volume by key category, 2022-23
  9. Launch activity and innovation for Q1 2023

    • George at Asda launches clothing collection for young people with disabilities
      • Figure 36: George at Asda Easy on adapted clothing range, 2023
    • Germany: P&C to open a sustainable department store in Berlin
    • Italy: Gucci launches Circular Hub
    • UK: Sephora opened its first retail store in the UK on March 10th
      • Figure 37: Sephora Westfield, 2023
    • Running specialist On opened its first UK flagship
      • Figure 38: On Running, Regent Street 2023
    • Germany: H&M partners with German recycling group Remondis to reduce its environmental footprint
    • France: France gets a new discount supermarket chain
    • Germany: Aldi adds more self-checkout zones in stores
    • Spain: Eroski launches new range of own-brand vegan products
    • Germany: Edeka is rolling out self-scanning with the Smart Shopper
  10. Special Focus: Amazon in Europe

    • Growth slows as Amazon annualises COVID-19 boost
      • Figure 39: Amazon, total global net sales, 2017-22
    • Profits hit record highs during the pandemic
      • Figure 40: Amazon profits, 2016-22
    • Services now the heart of the business?
      • Figure 41: Breakdown of Amazon net sales by business segment, as a % of total sales, 2019-22
    • Germany is Amazon’s largest market in Europe
      • Figure 42: Estimated Amazon net B2C revenues and GTV sales, 2020-22
    • Majority of European shoppers use Amazon
      • Figure 43: Products bought on amazon in the last 12 months, by country, 2022
    • Italy and Spain lead on Amazon Prime penetration
      • Figure 44: Amazon prime membership, by country, 2022

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