Alphavalue / Divacons| According to data from Les Echos, analysts note that the physical fashion retail network is shrinking. In the last two years, 11% of physical fashion shops in France have closed. The market fell by 9% in 2022 compared to 2019. Overall, traffic is down by 17%, but the transformation rate is increasing, as is the average basket. According to eMarketer, e-commerce accounted for 14.8% of total retail sales by the end of 2022 in Western Europe (vs. previous forecast of 13.2%), following better-than-expected growth in 2021 (up 14.3% year-on-year) and 2022 (up 5.1%).
Although the pace of growth has started to normalise, the pandemic-driven transformation of the industry and support for advanced digital technology will continue to be the winner.
