The retail output in Denmark has demonstrated a consistent growth trajectory from 2013 to 2023. The actual output in 2023 stood at 119.46 billion Danish Kroner, reflecting a substantial increase from 94.0 billion in 2013. Over the last two years, the year-on-year growth has been 1.9% and 1.85% respectively. The compound annual growth rate (CAGR) for the past five years stands at 2.3%, indicating a steady upward trend.
Looking ahead, from 2024 onwards, the forecasted data suggests continuous growth with a five-year CAGR of 1.34% and an overall growth rate of 6.88% by 2028. Although the growth rate decelerates slightly, it still represents positive development in the retail sector.
Future trends to watch for:
- Impact of e-commerce and digital transformation on traditional retail stores
- Consumer behavior shifts post-pandemic
- Sustainability practices and their adoption in the retail sector
- Inflation and economic fluctuations influencing retail spending