If you are looking for profund market data because you are right now putting together your european brand expansion strategy this could be your post. The GfK is a good source for retail relevant data and consumer information. Follow the GfK Twitter account and you won’t miss out on useful information (these illustrations are frequently shared #mapofthemonth). Get your updates regarding purchasing power, retail turnover, the retail share of the population’s total expenditures and so on. Scroll down the gallery and find interesting facts that hopefully lead you into the right direction. If you need further information please visit: gfk.com
The massive amount of €7.6 trillion was available to consumers in 28 EU countries for consumption-related expenditures in 2013. Every head spend an average €15.017 (+0,6%). The purchasing power lagged significantly behind levels in recent years. Which is obviously due to the crisis. We saw violent declines in Greece (-8.4 %), Cyprus (-7.4 %) as well as in the Czech Republic and Slovenia (-2.4 %). Spain and Italy went down too.
The retail share of private consumption continues to fall-off again in 2013 ; the quota is now at 30.8%. The GfK explains the effect with higher costs for energy, accommodation and leisure activities. The retail share is notably low in Italy (26.8%) and Greece (25.3%) as a result of the economic crisis. The strong economies of Germany, Great Britain and Switzerland have a retail share of just under 29 percent. A key reason for this low percentage are the higher incomes, of which a comparatively smaller portion suffices to cover basic needs.
In 2013, stationary retail turnover stagnated at around €3.1 trillion (-0.1%). The largest markets remain Russia, followed by France and Germany. Again the big losses were suffered by Greece (-7.9%), Cyprus (-5.1%) got hammered, while the Netherlands (-3.6%), Spain (-3.5%) and Italy (-3.4%) survived with a black eye. Nothing new is that online sales are continue to increasing pressure on stationary retail throughout Europe. The GfK predicted a moderate stationary retail growth of +0.6% (on average) for the EU-28 in 2014. The fast pacers are called Romania (+4.3%) and the Baltic states (+4.8-5.9 %). For the hard hit countries in Southern Europe the GfK predicted as more stable 2014.
Illustration: GfK
About GfK:
GfK is the trusted source of relevant market and consumer information that enables its clients to make smarter decisions. More than 13,000 market research experts combine their passion with GfK’s long-standing data science experience.This allows GfK to deliver vital global insights matched with local market intelligence from more than 100 countries. By using innovative technologies and data sciences, GfK turns big data into smart data, enabling its clients to improve their competitive edge and enrich consumers’ experiences and choices. Additional information can be found at www.gfk.com/geomarketing.
By Magnus Busch
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