Europe Retail Market Review by Sector, Country and Consumer Insights, Q1 2024 Update
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Europe Retail Market Report Overview
The European retail market size was EUR 4,069.6 billion in 2023. The European retail market is forecast to have a CAGR of more than 3% among all continents between 2023 and 2028. As a result of the high inflation and economic uncertainties experienced throughout Europe, consumers have become more likely to cut costs, especially on purchases of non-essential goods.
Europe Retail Market Outlook 2023-2028 (EUR Billion)
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The Europe retail market research reports offer data that showcase the trends in the market and sectors by value and volume. It also reveals the brand leaders by market share in 2023 in each of the categories as well as the entire European retail market. This report provides historical and forecast period data for total retail sales in Europe.
Market Size (2023) | EUR 4,069.6 billion |
CAGR (2023-2028) | >3% |
Historical Period | 2017-2023 |
Forecast Period | 2023-2028 |
Key Country | · Germany
· France · United Kingdom · Italy · Turkey |
Key Sector | · Food & Grocery
· Clothing & footwear · Home · Health & Beauty · Electricals |
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Europe Retail Market Segmentation by Country
The key countries in the European retail market are Germany, France, the United Kingdom, Italy, and Turkey. In 2023, Germany is the largest retail market within Europe, followed by France. These countries will benefit from their mature online channel and higher per capita incomes.
Europe Retail Market Analysis by Country, 2023 (%)
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Europe Retail Market Segmentation by Sectors
The key sectors in the Europe retail market are food & grocery, clothing & footwear, home, electricals, health & beauty, among others. Food & grocery accounted for the highest share of European retail sales in 2023 and will continue to grow throughout the forecast period.
Europe Retail Market Analysis by Sectors, 2023 (%)
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Europe Retail Market – Latest New & Developments
- In March 2024, Hamleys partnered with leading toy production and distribution player Giochi Preziosi to open a flagship store in the Rome region. This latest flagship store addition follows Hamleys’ Milan store opening in late 2023 and further expansion by the British toy maker into new global markets.
- Dutch discount retailer Action opened its first store in Porto, Portugal in February 2024, marking Action’s first international expansion into Portugal, its twelfth region, with plans to open further stores in Portugal by the end of 2024.
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Segments Covered in the Report
Europe Retail Market Sectors Outlook (Value, EUR Billion, 2017-2027)
- Food & Grocery
- Clothing & Footwear
- Home
- Electricals
- Health & Beauty
Europe Retail Market Country Outlook (Value, EUR Billion, 2017-2027)
- Germany
- France
- United Kingdom
- Italy
- Turkey
Reasons to Buy
- Understand the key trends in the European market across a range of sectors and how you can adapt to them.
- Access key data on how retailers are expanding offline channels and new strategy updates to better target campaigns.
- Use our analysis of Europe’s key sectors to identify the opportunities for growth at a country level.
Lululemon
Carrefour
Hamleys
Action
Acrc'teryx
Pepco
DollarStore
Decathlon
Rewe
Currys
IKEA
Nike
ASDA
Amazon
Table of Contents
Table
Figures
Frequently asked questions
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What was the Europe retail market size in 2023?
The retail market size in Europe was EUR 4,069.6 billion in 2023.
-
What is the Europe retail market growth rate?
The retail market in Europe is expected to grow at a CAGR of more than 3% during 2023-2028.
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Which was the leading sector in the Europe retail market in 2023?
Food & grocery accounted for the highest share of European retail sales in 2023.
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Which was the leading country in the Europe retail market in 2023?
Germany held the top spot in the key countries of Europe retail market in 2023.
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