EU: Retail vital to European Recovery, but needs help - investments and the right policies

Speaking today at a virtual conference held by the World Retail Congress, EuroCommerce Director-General Christian Verschueren set out the challenges facing retail across Europe and the vital role of the sector in supporting European economic recovery:

"Retail has been affected in different ways during the pandemic, but the whole ecosystem will see major change resulting from it. We will see a number of well-known retailers close their doors for ever, with fashion retail particularly hard hit, and others cutting the number of shops and staff they presently have. The pandemic also accelerated the trend towards online sales, and consumers, now used to e-commerce, will use this channel more in future.  Private consumption makes up some 60% of EU GDP, and if retail is in trouble, so will the rest of the economy be. Equally, with help in speeding up its already active engagement with digital innovation and sustainability, the retail and wholesale ecosystem can be a powerful driver for getting Europe back on its feet again". 

Read more at: 
Retail vital to European Recovery, but needs help - investments and the right policies — EUbusiness.com | EU news, business and politics