Forecast Report

Physical Stores In Europe Struggle For Survival As COVID-19 Migrates Sales Online

ForecastView Document

June 25th, 2020
Michael O'Grady, Principal Forecast Analyst
Michael O'Grady Principal Forecast Analyst
With contributors:
Reineke Reitsma , Himank Joshi

Summary

Forrester recently published a forecast on how COVID-19 affects the retail environment, in which we developed scenarios that estimate online retail growth in key European markets. Our April forecast showed that growth could vary between -9% and +5% in 2020. Based on actual online sales data, online retail sales in 2020 are growing significantly faster than 5% — even as the recession deepens. The impact on store sales will likely be long lasting, driven by the curbing of retail in-store experiences to limit the spread of COVID-19, new behaviors consumers have developed, and the time needed to develop a vaccine.

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