The retail sale in non-specialized stores sector in Austria has shown significant growth from 2013 to 2023, with an observed increase from 6.14 Billion Euros in 2013 to 10.7 Billion Euros in 2023. Between 2013 and 2023, year-on-year growth varied, reaching a peak increment of 16.57% in 2018 but showed a noticeable decline afterward, with the latest two years displaying a moderate growth of 4.73% in 2023. Over the last five years leading up to 2023, the compound annual growth rate (CAGR) stood at 5.7%, indicating a strong upward trend.
With forecasts from 2024 to 2028, production is expected to continue growing, reaching 13.04 Billion Euros by 2028. The projected five-year CAGR from 2024 to 2028 is 3.14%, suggesting a slower, yet consistent, expansion driven primarily by market saturation and economic factors. Over the next five years, the cumulative growth rate is projected at 16.7%.
Future trends to watch for:
- Continued growth but at a more moderate pace compared to the past ten years.
- Potential impact of economic cycles and consumer behavior shifts on retail sales.
- Technological advancements and innovation in retail, potentially affecting sales dynamics.
- Increasing importance of online and digital channels in driving overall retail performance.
- Expansion and diversification of product offerings in non-specialized stores to attract a wider customer base.