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The activity of retailing and wholesaling shapes both our economy as well as our daily lives. Consumers and businesses buy products and services every day according to their needs and preferences. But our familiarity with shopping often leads us to take the retail and wholesale sectors for granted.
What is the contribution of retail and wholesale to the European economy,in terms of economic added value, employment, innovation and competitiveness?
This report shows the magnitude of the retail and wholesale sectors in the European Union, in terms of enterprises, numbers of jobs as well as of contribution to Europe’s value added. It demonstrates the diversity and multiplicity of business formats in both sectors – from global business leaders to a myriad of small local or international businesses. It shows the extreme dynamism and innovation of sectors driven by intense competition as well as by ever changing and diverse consumer demands.
Technological progress and consumer behaviour are at the heart of a profound transformation within retail and wholesale and the growth of online trading is changing the way businesses operate and consumers interact, generating new challenges and opportunities.
The study shows that retail and wholesale are engines of growth and employment, which can play a critical role in the future of Europe’s economy and prosperity.