Trends Report

The Future Of Retail, eCommerce, And Marketplaces In Europe In The Wake Of COVID-19

August 11th, 2020
Michael O'Grady, Principal Forecast Analyst
Michael O'Grady Principal Forecast Analyst
AM
Ash Mukherjee

Summary

Forrester recently held a roundtable on the future of consumer packaged goods (CPG), retail, and luxury retail in Europe. To help retail leaders, Forrester’s Ash Mukherjee and Michael O’Grady discuss the key takeaways for omnichannel retailers from this session, including the impact of the current pandemic on consumer behavior and retail spend in Europe. COVID-19 irreversibly changes the European shopping environment. Total retail growth will decline by 3.6% across France, Germany, Italy, Spain, and the UK, but online sales will see record growth. In 2020, eCommerce will grow 18% across those five markets, and the share of retail sales migrating online will be two to three times faster than 2019. In 2019, the store was part of the purchase journey for digitally influenced shoppers: More than half of shoppers in the UK researched goods online before visiting a store. With COVID-19, this interaction between offline stores and the online channel must be redefined. For further insights into the European retail market in 2020, read the July 2020 COVID-19 Retail Scenario Planner (Global) and/or schedule an inquiry.

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