Shopping & Specialty Stores

The retail and wholesale sectors in Europe significantly contribute to the European economy, accounting in 2011 for 5.4 million businesses, of which two thirds operate in retail (3.6 million businesses) and one third in wholesale (1.8 million businesses). Overall, they represent over 22% of all active non-financial business enterprises, and as many as 30% of all European small and medium-sized enterprises (SMEs) across all sectors. Both sectors also generate a combined turnover of €8.3 trillion, of which €2.6 trillion is generated by retail and €5.7 trillion by wholesale. European businesses selling in the EU have unrestricted access to nearly 500 million consumers, helping them to stay competitive. The single market is also attractive to foreign investors.

Economic integration can also be a great advantage in times of recession, allowing EU countries to continue trading with one another, rather than resorting to protectionist measures that would worsen the crisis.