There are eight trends that will characterize the European grocery retail market in 2024.
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Cost and margin
pressure
70% of surveyed CEOs
named addressing cost and margin pressure as a top priority
Return of
polarization
1 in 5 consumers in Europe intend to splurge on groceries over the next 3 months, while 45% continue to look for ways to save money
Food to go: A wrestling match for share of stomach
×2.5 faster growth expected in away-from-home food (~8%) vs overall grocery (~3%)
Sustainability: Progress made, still a long way to go
29% of top 10 retailers have achieved Scope 1 and 2 targets for 2025; however, none of them report progress on Scope 3 targets
Online: Liberation
from offline
37% of online shoppers in the UK go to different stores online than offline
Retail media: Click here to boost the bottom line
20 out of the top 30 European grocers already have an established retail media business
Conversational commerce: The next wave of analytics
6 promising generative AI use cases can unlock 10–20% of the value of advanced analytics and AI
Talent: Making retail a
career again
29.4% increase in retail vacancies, up from 1.7% in 2019 to 2.2% in 2023
Conversational commerce: The next wave of analytics
6 promising generative AI use cases can unlock 10–20% of the value of advanced analytics and AI
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Talent: Making retail a
career again
29.4% increase in retail vacancies, up from 1.7% in 2019 to 2.2% in 2023
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1
Cost and margin
pressure
70% of surveyed CEOs
named addressing cost and margin pressure as a top priority
Return of
polarization
1 in 5 consumers in Europe intend to splurge on groceries over the next 3 months, while 45% continue to look for ways to save money
2
Food to go: A wrestling match for share of stomach
×2.5 faster growth expected in away-from-home food (~8%) vs overall grocery (~3%)
3
Sustainability: Progress made, still a long way to go
29% of top 10 retailers have achieved Scope 1 and 2 targets for 2025; however, none of them report progress on Scope 3 targets
4
Online: Liberation
from offline
37% of online shoppers in the UK go to different stores online than offline
5
Retail media: Click here to boost the bottom line
20 out of the top 30 European grocers already have an established retail media business
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