第一太平戴维斯（Savills）：2024年欧洲食杂零售市场报告（英文版）（32页）.pdf

1、EUROPEAN GROCERY MARKET 2024ECB interest rate cuts,inflation moving towards 2.00%target and rising consumer confidence bode well for European economy.Online grocery exposure remains low,with traditional retailers favouring omni-channel strategies.There is an increasing sustainability focus in the gr

2、ocery market for both consumers and retailers.Grocery sales forecast to rise by 2%in 2024 and a further 3%in 2025 as a result of the improved outlook.Maintaining a healthy margin while trying to limit price increases for the consumer continue to characterise many retailer strategies.Investment in th

3、e grocery market proved to be more resilient in 2023 compared to other commercial real estate.Supermarkets have proved to be a defensive asset in the face of lockdowns,changing consumer behaviours and e-commerce.Preferred retail formats are evolving to local,centrally-located stores,and discount and

4、 value stores have fared well with the rising cost of living.Strong fundamentals allowed supermarket yields to compress in 2020 and 2021,softening the least of all retail sectors since the pandemic.010407020508030609Key FindingsEuropean Grocery Market|July 20243Economic OverviewFirst ECB rate cut si

5、gnals positive movement for Eu-ropean economyThe European Central Bank(ECB)announced it will cut rates for the first time in five years in June 2024,lowering the deposit rate by 25 bps to 3.75%.This comes after a period of record high levels at 4.00%,the highest since the launch of the Euro.The prec

6、eding period of continuous rate hikes that started in 2022 were used as a tool to curb rapid inflation across Europe,where levels reached record high 10.60%in October 2022.As price pressures began to ease,headline eurozone inflation reached 2.50%in June 2024,down from 2.60%in May 2024,and is edging