European retail to pick up in 2014
| 02 May, 2014
GfK recently released a new study on European retail in 2014 from 32 European countries.
"Some very interesting trends continue to characterize the European retail landscape," explains Dr. Gerold Doplbauer, GfK retail expert and study leader. "Broadly considered, 2013 was a period of slowed economic momentum, marked by diminishing purchasing power growth. The retail trade suffered turnover losses as a result of these conditions.
“However, for 2014, we anticipate accelerated economic growth in Europe as well as a stabilization of the situation in Greece and Southern Europe. European retail will profit from this development, but the specific effects will vary substantially from country to country, as the study shows."
A total of €7.6 trillion was available to consumers in the EU-28 for consumption-related expenditures in 2013. With a total 2013 growth of +0.6 percent in the EU-28, purchasing power lagged significantly behind levels in recent years. The greatest declines in purchasing power took place in Greece (-8.4 percent), Cyprus (-7.4 percent) as well as in the Czech Republic and Slovenia (-2.4 percent for both). Purchasing power also fell again in Italy and Spain in 2013. However, slight growth is expected in these areas for 2014.