Between 2013 and 2023, the turnover in the retail sale in non-specialized stores sector in Belgium experienced fluctuating trends. The overall trend shows periods of growth interspersed with some contractions. Notably, after a dip in 2018, the sector saw a steady recovery with a consistent year-on-year increase from 2020 onwards, culminating in a turnover value standing at €41.34 billion in 2023. The average growth per year over the last five years (2019-2023) is reflected by a CAGR of 3.87%, indicating a stable upward trend in this sector.
Looking ahead, forecasted data up to 2028 suggests a continued positive trajectory with an anticipated average annual growth rate of 1.5%. By 2028, the sector is projected to reach a turnover of €45.43 billion, signifying an overall growth rate of 7.73% over the next five years.
Future trends to watch for:
- Continued digital transformation and its impact on retail strategies
- Increasing consumer demand for personalized shopping experiences
- Adoption of sustainable practices and eco-friendly products
- Technological advancements in supply chain management
- Pandemic-induced changes in consumer behavior and purchasing patterns
