With the growing awareness in the population of recent trend, the wholesale and retail market is growing more actively in the respective region. Moreover, with the significant development in the economy the retail sector of Belgium has grown in the present era. Not only has this, the significant increase in the disposable income and drastic change in the lifestyle lead the market growth of the retail sector in Belgium. The demand is growing by the time as the population is increasing which makes the retailers to set up their online stores or blending up with the other players who are running an online platform for selling the products across the globe. The consumers believe that the online products are more reliable and assured as they are rated by the buyers only. The key players of this region is making effective strategies and policies for increasing the demand of the product at a reasonable rate which further lead to the market growth more significantly.
According to the report analysis, ‘Retailing in Belgium, Market Shares, Summary and Forecasts to 2022’ states that some of the major companies which are currently functioning in this domain for acquiring the highest share across the globe by establishing an online platforms and more offline stores involves Esprit, H&M, Zara, JBC, C&A, Galeria Inno, Torfs, Zeeman, A.S. Adventure, Primark, Colruyt, Carrefour SA, Aldi Group, Delhaize(Belgium), Lidl, SPAR International BV, Okay, Intermarche, Collect&Go, Cora, Media Markt, Selexion, Krefel, Vanden Borre, Cool Blue, Expert, Carrefour Market, FNAC, Bol.com, Eldi, Carrefour, Kruidvat, Colruyt, ICI Paris XL, Di, Multipharma, Aldi, Lloyds Pharmacy, Pearle, Familia, IKEA, Hubo, Brico, Gamma, Action, Aveve, Mr Bricolage, ColliShop,Trafic, Plan-It and several others. Moreover, the report consists prominent information and detail information with the market insights of consumer trends, fluctuating economic and demographic factors with the technological innovations and other key macroeconomic factors.
In 2017, the retail sales in the region reached EUR83.7 billion and are expected to increase at a CAGR of 2.2% over the next five years to reach EUR93.2 billion by the end of 2022. Whereas, in 2017 the sector of clothing and footwear sector is fragmented with the top 10 retailers which are contributing only 25.1% of the entire sales. The online channel will dependably outperform other channels in terms of growth over the coming five years with a great CAGR of 11.3%. Not only has this, with the growth in the health conscious population the Food and Grocery retail sales accounted for the highest share at 51.9% of the total Belgium retail industry. However, in 2017 the health and beauty is the fourth largest sector in the Belgian retail industry and underwriting 9.0% to the total supply. The floor and furniture covering specialists and home development and gardening sales specialists attain the home sector.
The active key players are making effective strategies and policies for dominating the share and making the product more effective which make the market more competitive and further dominate by the investor by support the market financially. Therefore, it is expected that in the near future the retail market in the Belgium will grow more actively over the next few years.
For more information on the research report, refer to below link:- https://www.kenresearch.com/consumer-products-and-retail/wholesale-and-retail/retailing-belgium-market/157376-95.html
Ankur Gupta, Head Marketing & Communications