Retail sales registered modest growth in current value terms in 2024. Growth was stronger in 2023 but this was largely fuelled by inflation. In 2024 prices started to stabilise although consumer purchasing behaviour was still affected by the inflation crisis. Indeed, consumers remained reluctant to spend on non-essential products and services.
The Retail in Belgium report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.
Product coverage: Retail E-Commerce, Retail Offline.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
The Retail in Belgium report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.
Product coverage: Retail E-Commerce, Retail Offline.
Data coverage: Market sizes (historic and forecasts), company shares, brand shares and distribution data.
Why buy this report?
- Get a detailed picture of the Retail market;
- Pinpoint growth sectors and identify factors driving change;
- Understand the competitive environment, the market’s major players and leading brands;
- Use five-year forecasts to assess how the market is predicted to develop.
Table of Contents
EXECUTIVE SUMMARY
- Retail in 2024: The big picture
- Retailer profit margins under pressure
- Online retail continued to gain share in 2024
- What next for retail?
OPERATING ENVIRONMENT
- Informal retail
- Opening hours for physical retail
- Summary 1 Standard Opening Hours by Channel Type 2024
- Seasonality
- Christmas
- Back To School
MARKET DATA
- Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2019-2024
- Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2019-2024
- Table 3 Sales in Retail Offline by Channel: Value 2019-2024
- Table 4 Sales in Retail Offline by Channel: % Value Growth 2019-2024
- Table 5 Retail Offline Outlets by Channel: Units 2019-2024
- Table 6 Retail Offline Outlets by Channel: % Unit Growth 2019-2024
- Table 7 Sales in Retail E-Commerce by Product: Value 2019-2024
- Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2019-2024
- Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2019-2024
- Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 11 Sales in Grocery Retailers by Channel: Value 2019-2024
- Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2019-2024
- Table 13 Grocery Retailers Outlets by Channel: Units 2019-2024
- Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2019-2024
- Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2019-2024
- Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 17 Sales in Non-Grocery Retailers by Channel: Value 2019-2024
- Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2019-2024
- Table 19 Non-Grocery Retailers Outlets by Channel: Units 2019-2024
- Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2019-2024
- Table 21 Retail GBO Company Shares: % Value 2020-2024
- Table 22 Retail GBN Brand Shares: % Value 2021-2024
- Table 23 Retail Offline GBO Company Shares: % Value 2020-2024
- Table 24 Retail Offline GBN Brand Shares: % Value 2021-2024
- Table 25 Retail Offline LBN Brand Shares: Outlets 2021-2024
- Table 26 Retail E-Commerce GBO Company Shares: % Value 2020-2024
- Table 27 Retail E-Commerce GBN Brand Shares: % Value 2021-2024
- Table 28 Grocery Retailers GBO Company Shares: % Value 2020-2024
- Table 29 Grocery Retailers GBN Brand Shares: % Value 2021-2024
- Table 30 Grocery Retailers LBN Brand Shares: Outlets 2021-2024
- Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2020-2024
- Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2021-2024
- Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2021-2024
- Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2024-2029
- Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2024-2029
- Table 36 Forecast Sales in Retail Offline by Channel: Value 2024-2029
- Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2024-2029
- Table 38 Forecast Retail Offline Outlets by Channel: Units 2024-2029
- Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2024-2029
- Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2024-2029
- Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2024-2029
- Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
- Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2024-2029
- Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2024-2029
- Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2024-2029
- Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2024-2029
- Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
- Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2024-2029
- Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2024-2029
- Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2024-2029
- Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2024-2029
SOURCES
- Summary 2 Research Sources
2024 DEVELOPMENTS
- Convenience stores see slower growth in 2024 as competition from supermarkets increases
- Increasing competition from foods e-commerce
- Smatch stores close as competition intensifies
PROSPECTS AND OPPORTUNITIES
- Convenience stores earmarked for positive growth but the channel could face stronger competition
- Colruyt to expand its network of Okay convenience stores
- Convenience stores concept coming under pressure from other retail channels
CHANNEL DATA
- Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2019-2024
- Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 56 Sales in Convenience Retailers by Channel: Value 2019-2024
- Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2019-2024
- Table 58 Convenience Retailers GBO Company Shares: % Value 2020-2024
- Table 59 Convenience Retailers GBN Brand Shares: % Value 2021-2024
- Table 60 Convenience Retailers LBN Brand Shares: Outlets 2021-2024
- Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
- Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2024-2029
- Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2024-2029
2024 DEVELOPMENTS
- Price stabilisation negatively affects discounters
- Key players reduce their number of stores
- Rise of food e-commerce presents a new challenge to discounters
PROSPECTS AND OPPORTUNITIES
- Discounters expected to invest in new outlets and higher quality products
- Lidl looking to become a leader in sustainability
- Aldi to expand into city centres via smaller concept outlets
CHANNEL DATA
- Table 65 Discounters: Value Sales, Outlets and Selling Space 2019-2024
- Table 66 Discounters: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 67 Discounters GBO Company Shares: % Value 2020-2024
- Table 68 Discounters GBN Brand Shares: % Value 2021-2024
- Table 69 Discounters LBN Brand Shares: Outlets 2021-2024
- Table 70 Discounters Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 71 Discounters Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
2024 DEVELOPMENTS
- A difficult year for hypermarkets as competition grows
- Carrefour remains the king of hypermarkets despite declining sales
- Despite another tough year Louis Delhaize decides to hold onto Cora
PROSPECTS AND OPPORTUNITIES
- Hypermarkets expected to struggle for growth despite a more positive economic outlook
- Carrefour expected to focus more on other grocery channels
- Cora hypermarkets to keep losing shares
CHANNEL DATA
- Table 72 Hypermarkets: Value Sales, Outlets and Selling Space 2019-2024
- Table 73 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 74 Hypermarkets GBO Company Shares: % Value 2020-2024
- Table 75 Hypermarkets GBN Brand Shares: % Value 2021-2024
- Table 76 Hypermarkets LBN Brand Shares: Outlets 2021-2024
- Table 77 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 78 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
2024 DEVELOPMENTS
- Amid price stabilisation, supermarkets sees a more positive performance in 2024
- Delhaize switches to franchised supermarkets to make Sunday trading easier
- Louis Delhaize sells off Match as its struggles continue
PROSPECTS AND OPPORTUNITIES
- Supermarkets expected to benefit from improving economy
- Colruyt to test Sunday openings
- Supermarkets expected to focus more on their online sales
CHANNEL DATA
- Table 79 Supermarkets: Value Sales, Outlets and Selling Space 2019-2024
- Table 80 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 81 Supermarkets GBO Company Shares: % Value 2020-2024
- Table 82 Supermarkets GBN Brand Shares: % Value 2021-2024
- Table 83 Supermarkets LBN Brand Shares: Outlets 2021-2024
- Table 84 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 85 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
2024 DEVELOPMENTS
- Small local grocers face strong competition from convenience stores and supermarkets
- Some independent players struggle to overcome financial challenges resulting in store closures
- Holland & Barrett wins shares
PROSPECTS AND OPPORTUNITIES
- Small local grocers value sales to keep declining
- Pressure on profit margins and increasing competition likely to result in more store closures
- Small local grocers could find success by focusing on health and wellness products
CHANNEL DATA
- Table 86 Small Local Grocers: Value Sales, Outlets and Selling Space 2019-2024
- Table 87 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 88 Small Local Grocers GBO Company Shares: % Value 2020-2024
- Table 89 Small Local Grocers GBN Brand Shares: % Value 2021-2024
- Table 90 Small Local Grocers LBN Brand Shares: Outlets 2021-2024
- Table 91 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 92 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
2024 DEVELOPMENTS
- Galeria Inno comes under new ownership in 2024 as department stores struggle
- Variety stores delivers growth in 2024 driven by the success of Action
- Wibra continues on downward spiral
PROSPECTS AND OPPORTUNITIES
- Static performance for department store over the forecast period
- Bright outlook for variety stores as consumers go in search of a bargain
- New owners propose expanding the network of Galeria Inno department stores
CHANNEL DATA
- Table 93 General Merchandise Stores: Value Sales, Outlets and Selling Space 2019-2024
- Table 94 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 95 Sales in General Merchandise Stores by Channel: Value 2019-2024
- Table 96 Sales in General Merchandise Stores by Channel: % Value Growth 2019-2024
- Table 97 General Merchandise Stores GBO Company Shares: % Value 2020-2024
- Table 98 General Merchandise Stores GBN Brand Shares: % Value 2021-2024
- Table 99 General Merchandise Stores LBN Brand Shares: Outlets 2021-2024
- Table 100 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 101 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
- Table 102 Forecast Sales in General Merchandise Stores by Channel: Value 2024-2029
- Table 103 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2024-2029
2024 DEVELOPMENTS
- Apparel and footwear specialists see muted performance as competition grows from other channels
- Growing pressure on profit margins leads to outlet closures and the bankruptcy of Bristol
- Limited-service restaurants taking over retail space in shopping malls
PROSPECTS AND OPPORTUNITIES
- Apparel and footwear specialists face a challenging future despite Belgium’s improving economy
- Growing competition from e-commerce
- Fast-fashion likely to remain popular but sustainability concerns could also influence the market
CHANNEL DATA
- Table 104 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2019-2024
- Table 105 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 106 Apparel and Footwear Specialists GBO Company Shares: % Value 2020-2024
- Table 107 Apparel and Footwear Specialists GBN Brand Shares: % Value 2021-2024
- Table 108 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2021-2024
- Table 109 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 110 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
2024 DEVELOPMENTS
- Amid competition from retail e-commerce, appliances and electronics specialists offline sales declined
- Krefel ditches its kitchen production and furniture in favour of its kitchen appliances
- Consumer electronics outperform consumer appliances
PROSPECTS AND OPPORTUNITIES
- More outlets expected to close as independent operators struggle to remain competitive
- Demand for appliances set to increase but store-based retailers could lose out to online retailers
- Logistics innovation could help reduce pressure on profit margins for appliances and electronics specialists
CHANNEL DATA
- Table 111 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2019-2024
- Table 112 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 113 Appliances and Electronics Specialists GBO Company Shares: % Value 2020-2024
- Table 114 Appliances and Electronics Specialists GBN Brand Shares: % Value 2021-2024
- Table 115 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2021-2024
- Table 116 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 117 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
2024 DEVELOPMENTS
- Beauty specialists bounce back
- Fewer pharmacies, more health and personal care stores
- Competitive landscape undergoing changes as pure online retailers open physical stores and The Body Shop exits the market
PROSPECTS AND OPPORTUNITIES
- Health and beauty specialists projected to see steady growth over the forecast period
- Health and personal care stores set to continue growing at the expense of pharmacies
- Beauty specialists likely to see mounting competition with a growing focus on omnichannel strategies
CHANNEL DATA
- Table 118 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2019-2024
- Table 119 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 120 Sales in Health and Beauty Specialists by Channel: Value 2019-2024
- Table 121 Sales in Health and Beauty Specialists by Channel: % Value Growth 2019-2024
- Table 122 Health and Beauty Specialists GBO Company Shares: % Value 2020-2024
- Table 123 Health and Beauty Specialists GBN Brand Shares: % Value 2021-2024
- Table 124 Health and Beauty Specialists LBN Brand Shares: Outlets 2021-2024
- Table 125 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 126 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
- Table 127 Forecast Sales in Health and Beauty Specialists by Channel: Value 2024-2029
- Table 128 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2024-2029
2024 DEVELOPMENTS
- Negative performance in 2024 for homewares and home furnishing stores
- Poor weather puts a dent in sales through home improvement and gardening stores
- Ikea and Jysk standout performers
PROSPECTS AND OPPORTUNITIES
- Demand for homewares and home furnishing products set to grow
- Amid premiumisation, pet shop shops and superstores to score growth
- E-commerce to develop in home products specialists
CHANNEL DATA
- Table 129 Home Products Specialists: Value Sales, Outlets and Selling Space 2019-2024
- Table 130 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2019-2024
- Table 131 Sales in Home Products Specialists by Channel: Value 2019-2024
- Table 132 Sales in Home Products Specialists by Channel: % Value Growth 2019-2024
- Table 133 Home Products Specialists GBO Company Shares: % Value 2020-2024
- Table 134 Home Products Specialists GBN Brand Shares: % Value 2021-2024
- Table 135 Home Products Specialists LBN Brand Shares: Outlets 2021-2024
- Table 136 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2024-2029
- Table 137 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2024-2029
- Table 138 Forecast Sales in Home Products Specialists by Channel: Value 2024-2029
- Table 139 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2024-2029
2024 DEVELOPMENTS
- Direct selling sales fall due to growing competition from e-commerce
- Herbalife wins shares amid growth of foods and consumer health direct selling
- Fashion direct selling on the decline
PROSPECTS AND OPPORTUNITIES
- Increasing competition from other channels likely to stifle the growth of direct selling
- Blurred lines between direct selling and e-commerce
- Health and wellness trend could still offer growth opportunities for direct selling
CHANNEL DATA
- Table 140 Direct Selling by Product: Value 2019-2024
- Table 141 Direct Selling by Product: % Value Growth 2019-2024
- Table 142 Direct Selling GBO Company Shares: % Value 2020-2024
- Table 143 Direct Selling GBN Brand Shares: % Value 2021-2024
- Table 144 Direct Selling Forecasts by Product: Value 2024-2029
- Table 145 Direct Selling Forecasts by Product: % Value Growth 2024-2029
2024 DEVELOPMENTS
- Vending sales slump in 2024 as consumers tighten the purse strings
- Soft drinks and foods vending dominate sales but see contrasting fortunes
- Sales of non-grocery products through vending remain limited
PROSPECTS AND OPPORTUNITIES
- Some opportunities remain in vending amid busy on-the-go lifestyles and consumption behaviours
- Investment from key players should benefit sales of hot and soft drinks vending
- Consumer electronics vending seen as an area with potential
CHANNEL DATA
- Table 146 Vending by Product: Value 2019-2024
- Table 147 Vending by Product: % Value Growth 2019-2024
- Table 148 Vending GBO Company Shares: % Value 2020-2024
- Table 149 Vending GBN Brand Shares: % Value 2021-2024
- Table 150 Vending Forecasts by Product: Value 2024-2029
- Table 151 Vending Forecasts by Product: % Value Growth 2024-2029
2024 DEVELOPMENTS
- Retail e-commerce posts solid growth in 2024
- Grocery retailers invest in home delivery, boosting demand for foods e-commerce
- Temu and Shein win share at the expense of category leaders thanks to highly competitive prices
PROSPECTS AND OPPORTUNITIES
- A bright outlook for retail e-commerce
- The rise of Temu and Shein could threaten Amazon’s leadership
- Second-hand market set to develop online
CHANNEL DATA
- Table 152 Retail E-Commerce by Channel: Value 2019-2024
- Table 153 Retail E-Commerce by Channel: % Value Growth 2019-2024
- Table 154 Retail E-Commerce by Product: Value 2019-2024
- Table 155 Retail E-Commerce by Product: % Value Growth 2019-2024
- Table 156 Retail E-Commerce GBO Company Shares: % Value 2020-2024
- Table 157 Retail E-Commerce GBN Brand Shares: % Value 2021-2024
- Table 158 Forecast Retail E-Commerce by Channel: Value 2024-2029
- Table 159 Forecast Retail E-Commerce by Channel: % Value Growth 2024-2029
- Table 160 Forecast Retail E-Commerce by Product: Value 2024-2029
- Table 161 Forecast Retail E-Commerce by Product: % Value Growth 2024-2029