The latest forecasts for 2016 show that there is a positive trend for the consolidation of the retail business in the markets of the European Union, mainly in Romania where the growth is estimated at 7 percent, according to a GfK study.
“Strengthening retail business last year will continue in 2016 too. For EU countries, the growth will be about 1 percent. There will be positive evolutions, especially in Romania, with an increase of 7 percent and in the Baltic countries by about 5 percent, which gradually begin to catch up with more mature markets. We expect also to vigorous dynamics in retail for Sweden where we estimate an increase of 5 percent and Spain with an increase of 4 percent,” the study reads.
Meanwhile, the profitability of commercial spaces increased last year in the EU by nearly 3 percent. This is a good sign for the retail sector which recorded revenues for two consecutive years after a long period of decline, GfK notes.
“2015 was a good year for European consumers,” Dr. Gerold Doplbauer, GfK retail expert explains. “EU economy grew by almost 5 percent and the unemployment rate fell in most countries. Household consumption increased significantly. Lower interest rates on deposits have made saving less attractive, so that many consumers chose to spend their money, retail being the main beneficiary.”
GfK has carried out an analysis of the European retail scene, covering the latest developments and forecasts for 2016 in 33 European countries. The study evaluated the purchasing power, the retail share of the population’s total expenditures, inflation, commercial spaces profitability.