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European Retail the Value Of DEPARTMENT STORE The Value of European Retail A factbook The Value of European Retail A factbook This graphic version of the Value of European Retail factbook is based on extensive desk research by Chris Smith, an independent analyst, directed by Christian Verschueren, Christel Delberghe and Jean-Albert Nyssens, respectively director-general, executive director for competitiveness and communication, and chief economist at EuroCommerce. It captures data and contributions from member associations, official statistics, consultancies and research organisation. The EuroCommerce staff also contributed to the factbook. The authors are grateful to all those contributors. You can access the full version of the Value of European Retail factbook (a set of 150+ slides) at www.eurocommerce.eu July 2021 The Value of European Retail 2 Foreword Facts matter! Facts and figures are essential to provide evidence and to show scale and dimension of the retail sector. As proof points, they also form a solid basis for underpinning policy arguments. By bringing together relevant data from our national associations, official statistics, research organisations and consultancies, and compiling them in a structured way, we have sought to fill an important gap. We hope that this first “Value of European Retail” factbook will provide a valuable source of information and knowledge for anyone wishing to know more about European retail. Christian Verschueren Director-General The Value of European Retail 3 The Value of European Retail 4 Contents I What is retail A few definitions 06 European Retail in key numbers 07 What if retail didn’t exist? 08 II Retail and COVID Retail, an essential service 10 Impact of COVID on retail 11 III Challenges and mega-trends Digital transformation of retail 12 Growing consumer awareness about health & the environment 14 Disappearance and closure of stores in towns and villages 14 Challenging socio-economic context 15 Growing competitive pressure on traditional retailers 15 IV The value delivered by European retail 1 Serving customers, helping consumers 17 2 Being inclusive employers 23 3 Acting sustainably 29 4 Contributing to vibrant communities 35 5 Leveraging digital technologies 41 V European retailers: global leaders League tables of global and European retailers 46 The Value of European Retail 5 I What is Retail? A few basic definitions Retail Commerce The sale of goods to the public in A broad term describing the activity of relatively small quantities for final use trading, buying and selling, and including both or consumption rather than for resale. retail and wholesale activities. Sometimes Etymologically, the word retail stems from also used to define the distributive trade the French word “retailler” which means sector. Often used with the prefix “e --” to “cut back, cut off, into smaller pieces”. describe online retail (“e commerce”). Today, the word is used for a wide diversity of players selling a wide array of products Shop / store and services to consumers, i.e. B2C, through many store formats and channels, including A building or part of a building where goods online. Retailers operate through various or services are sold to final customers. The business models, such as large integrated word is evolving to describe e-commerce chains of stock listed or private companies, operations as well (“e-shop”, “webshop”). groups of small independent retailers or The words “shop” and “store” are used franchisees, or consumer cooperatives. in interchangeably in this report, even though the word “store” is more frequently in use in the US than in Europe. Distributive trade The technical and statistical definition of the business sector involved in commerce and trade, and covering retail, wholesale, and distributive trade, grouped under statistical NACE codes G45 47; for the purpose of this factbook, only G47 (retail trade) is taken into account, at the exclusion of G45 (car sales and repair) and G46 (wholesale, B2B trade). The Value of European Retail 6 European retail in numbers Retail annual 3.5 million retail turnover is businesses €3.2 trillion across Europe This represents almost 99% of these are SMEs: 1/5 of European GDP ∙ 60% of employment This represents about ∙ 50% of turnover 1/3 of total household ∙ 50% of added value consumption but also global leaders: Carrefour / Tesco / Metro / Ikea / Kingfischer/ Ceconomy / Schwarz / Inditex Retail employs Europe is a global close to leader in retail 20 million people 24 retailers among the top 50 global leaders, Together with 10 million in wholesaler, retail & wholesale But it is losing ground in the employ 1 in 7 working European top 10 global retail league: 62% are women 2008 2019 (European average is 46%) 1. Walmart Walmart 2. 15% are young people under 25 Carrefour Amazon 3. Metro AG Costco (European average is 9%) 4. Tesco Schwarz Local jobs: in 95% of 5. Schwarz Kroger Europe’s regions, retail is 6. Kroger Walgreen Boots Alliance #1, #2 or #3 employer 7. Home Depot Home Depot 8. Costco Aldi 9. Aldi Carrefour 10. Target CVS The Value of European Retail 7 I What is Retail? If retail did not exist, what would we miss? Many products in one place Reach & density Shoppers would need to go to many The possibility to go into a more places to find the products store a short distance from they were looking for, be it in my home or office, or better, food and groceries or non food. the ability to have the goods delivered where I want them. Choice: a broad range of products and services Time saver Retailers, through the different Retail saves significant time segments that they cater for, allow and energy by providing shoppers to access a broad range a wide range of products of products and services and define “under one roof” in stores themselves where to buy on the and / or in combination quality vs price scale. There is also with a broad e-commerce a broad range of shop formats. catalogue that can be rapidly delivered / picked up. Immediate availability Affordable prices In stores and warehouses, retailers maintain stocks of products and By consolidating volumes, % retailers place mass orders make products readily available. Only OFF 50 on behalf of customers, hence when products are sold out, or out Retail SALE of stock, does the shopper realise reducing production costs that value. In e-commerce, this and prices. In making bulk translates into fast delivery times. purchases, their stores allow thousands of shoppers to make individual purchases and Efficiency and speed benefit from better conditions. of moving goods Retailers have developed very Transparency strong and dense networks of & comparison warehouses, transport and stores, allowing goods to move efficiently Increasingly, through barcodes, and quickly from all over the world. price indicators, labelling, Without these, we would have a certification of origins, combination of less variety, more shoppers know better what traffic congestion, increased time they are buying and can to identify and access products. compare products and prices. The Value of European Retail 8 Fun experience Trust & assurance Shopping is also a leisure The shopper trusts that the retailer activity. It can be a real pleasure selects and curates quality and safe when stores provide a fun / products for his / her at the best pleasant experience and are conditions, from reliable suppliers. staffed with friendly and welcoming sales associates. Quality, safety & freshness Inspiration In food, this also translates into freshness, safety and respect of Through the buying, producing, cold chain / end of use dates. curating and displaying of products, retailers inspire shoppers with new food & recipes, attractive ways to Vibrant cities, towns, dress, new ways to improve and villages their home or better ways to follow their hobby or sport. Thanks to the many retail outlets of large and small companies, and together with cafés, restaurants, Social interaction (movie) theatres, museums, cultural Shops and malls continue the centres, and art galleries, town tradition of markets set up centres are vibrant communities centuries ago where people and places people want to go. trade goods in a common place. For many people, the local Jobs store or supermarket is one of the main places where they Retail provides close to 20 million interact with other people. jobs in Europe to many women, young, sometimes people with lower levels of education, giving Identification them opportunities and training. Many people identify with the retailers where they shop. These shops are part of their identity. The Value of European Retail 9 II Retail and COVID An essential ecosystem for all Europeans Continuous supply of food and other more online and essentials other delivery options Resilient Commitment supply chains, 1 no shortages 1 not to increase P prices e roviding sse ices ntial serv Protective Safety protocols equipment for shopping 22 Kee fe ping everyone sa Donations and Deliveries to support to health isolated and professionals vulnerable people H 3 elpin ciety g communities & so Shorter payment Taking over surplus terms to small volumes intended suppliers for (closed) restaurants Transfer of staff Support to between local farmers companies and suppliers Su 4 es ppo 4 ss rting usine employment & other b Responsibility Solidarity Cooperation The Value of European Retail 10 Impact of COVID-19: «A tale of two cities...» «...it was the best of times» «...it was the worst of times» for retailers selling food and for retailers selling so-called groceries, the so-called “essentials”, "non-essentials", i.e. clothing, luxury, but also DIY, toiletry and hygiene furniture, or in tourist areas, as products, petfood, computers, well as for wholesalers selling printers, video games to restaurants, hotels, cafés. under pressure to maintain ordered by government to close or hit APRIL 2020 continuity of supply against dramatically by the restrictions of people's unprecedented levels of demand movements or plummeting demand JAN 2020 during first DEC -60 to -80% lockdown month 2020 DEC.
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