RETAIL MARKET – COORE Market Beat 2021
STRONG SALES IN 2021!
Sales in 2021 increased by 5.0% in nominal terms compared to 2020. Taking into account the price development, an increase of 2.9% was achieved.
The pre-crisis level of 2019 was also surpassed and was 2.7% higher in 2021. The big loser was the “Apparel & Footwear” sector, which suffered a 21.2% decline. This development was already apparent from 2016/17, its reason mainly being the strong development of online shopping.
Demand for space
Demand for space has increased massively in all sectors, even textile retail has picked up again and is looking for new space.
The level, especially in the city center, has de facto not changed compared to the pre-crisis level. For example, Huawei, Marco Polo and IQOS have opened stores on Kärntner Strasse.
Gastronomy development remains extremely exciting. Of the approximately 600 new stores opened in Austria, more than one-sixth are already attributable to gastronomy.
While in 2020 approx. 190 stores opened throughout Austria, in 2021 there were around 600 new stores, see attached graph. This shows the dynamics in the stationary retail trade. The demand is stable. The general economic data are positive – we are very optimistic about the new year.
Social shopping, second hand and ethical values are just some of the buzzwords shaping the future of retail. Sustainability also plays a key role here. Studies show that second-hand goods will achieve a market share of 20% in the next 10 years.