Coronavirus to wipe £1.7trn off global retail sales

Coronavirus grocery shopper

The coronavirus crisis will wipe $2.1trn (£1.7trn) off of global retail sales in 2020, new data has predicted.

Experts from research and advisory firm Forrester have warned it will take four years for retail sales to bounce back to pre-pandemic levels following this year’s anticipated 9.6% slump.

Europe’s largest economies are expected to be the worst hit by the health emergency.

Retail sales in the UK, France, Germany, Spain and Italy combined are forecast to slide €260bn (£225.9bn) this year. The decline would mark a 10.4% drop in sales on 2019 levels.

Subscription content

Please sign in now if you have a subscription or are already registered with us.

Retail Week

Register for free to continue reading provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • Two free article views per calendar month on
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.