In 2023, Italy led the European market with 83 young high-growth enterprises in non-specialised stores retail, while Hungary and Romania followed with 50 and 47 enterprises, respectively. Portugal, Czech Republic, Slovakia, Norway, and Lithuania had considerably fewer gazelles. Year-on-year growth rates showed a notable increase for Hungary at 44.27%, while Italy experienced growth of 8.19%. Romania, Portugal, Czech Republic, and Slovakia saw varying minor increases. Norway and Lithuania showed no change. The Compound Annual Growth Rate (CAGR) over the past five years indicates positive momentum across most countries, with Hungary displaying significant growth potential.
Future trends to watch include:
- The increasing involvement of digital technologies in retail.
- The impact of economic conditions on startup growth.
- Cross-border expansion within the EU for these gazelles.
- Potential policy changes facilitating youth entrepreneurship.
Top countries in Number of Young High Growth Enterprises (Gazelles) in Non-Specialised Stores Retail by Country
| # | 8 Countries | Units (Enterprises) | Last Year | YoY | 5-years CAGR | |
|---|---|---|---|---|---|---|
| 1 | 1 Italy | 83 | 2023 | +5.06% | +8.19% | View data |
| 2 | 2 Hungary | 50 | 2023 | +19.05% | +44.27% | View data |
| 3 | 3 Romania | 47 | 2023 | +14.63% | +2.77% | View data |
| 4 | 4 Portugal | 20 | 2023 | +5.26% | +1.03% | View data |
| 5 | 5 Czech Republic | 7 | 2023 | 0% | +6.96% | View data |
| 6 | 6 Slovakia | 6 | 2023 | +20% | +8.45% | View data |
| 7 | 7 Norway | 1 | 2023 | 0% | 0% | View data |
| 8 | 8 Lithuania | 1 | 2023 | 0% | 0% | View data |
