Global retail spend predicted drop is nearly 550 billion USD

By: Kátai Ildikó Date: 2020. 05. 14. 10:50

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POPAI and Shop!* chapters keep in touch and the member organizations are constantly informing each other about the consequences of the virus situation, with particular regard to the development of the Retail, the FMCG sector and the instore industry. Shop! headquarters Retail Enviroments Staff prepaired the first loss estimation for 2020.

With almost 3 million cases of coronavirus worldwide and numerous countries enforcing lockdowns, global retail spend is anticipated to fall 3% in 2020, equating to $549.7 billion, according to data and analytics firm GlobalData. Prior to the pandemic, global retail spend was projected to rise 5%.

Világ kiskereskedelmének becsült csökkenése térkép

Projections vary by region, as demonstrated by the above map based on GlobalData forecasts showing 2020 retail spend for key regions versus 2019 built up from the 49 countries covered.

“North America and Europe are set to experience the steepest drops in retail spend forecast to decrease 4.8% and 4.4% respectively,” says Sofie Willmott, lead analyst at GlobalData. “And while APAC is expected to only see a relatively minor decline of 1.3% which looks good relative to other regions, pre-COVID 19 we had forecast the region’s growth to be 7.2%.

* POPAI, from 2015 named Shop! is an international organization of the Marketing and Retail industry which headquarters placed in Chicago and Hollywood Florida, representing nearly 2000 local offices. Hungary joined with the POPAI Hungary Association in 2003, which has since then been a nonprofit professional, educational, research and knowledge transfer organisation active mainly in the FMCG sector. Read more: popai.hu

Ildikó Kátai