Latvia has the smallest sales space among all Baltic states
Comparing retail markets in different regions of Europe, the average sales space in Latvia per one inhabitant is 1.05m2, which is one of the lowest indices in Europe, and the lowest among the Baltic states, according to the industry overview “Maxima Retail Compass” conducted by “Maxima Latvija”.
he market research company GFK conducted European retail sales market research for 2017, the results of which show that the largest sales space per one person is in Belgium, 1.67 m2. Austria ranks second with 1.66 m2, the Netherlands rank third with 1.59 m2. The smallest sales space is in Turkey, 0.67 m2, and Poland, 0.98 m2. The Baltic states are in the third group of countries where on average the sales space is from 1m2 to 1.2 m2.
This potential is used by food sale chains in Latvia opening more and more new stores, and new shopping centres are constructed, or the existing ones are expanded. “Maxima Latvija” opened two “Maxima” XXX stores in the shopping centres “Domina Shopping”, and in the fashion and entertainment centre “Rīga Plaza”, thereby providing the clients more comfortable, modern, and accessible shopping. Generally, in 2018, “Maxima Latvija” plans to invest 23 million euros in reconstruction of 15 stores in Riga and regions, as well as open five new different stores in the country.
The study was conducted in collaboration with the market and opinion research centre “SKDS” in July 2018, the survey covered the total of 1005 respondents aged from 18 to 74.
“Maxima Retail Compass” is a comprehensive overview of the retail industry, in which experts from the retail network “Maxima Latvija” have given their assessment on the current situation in retail and its future trends. This time, special attention in the sector’s review was paid to the development of the grain cultivation industry in Latvia and the Baltic States in 2018 and the consumption patterns of grains among the population of Latvia. The survey of the grain cultivation industry was developed in cooperation with the joint stock company “Dobeles Dzirnavnieks” and the agronomists from the Latvia University of Life Sciences and Technologies.
via GFK “European Retail Study 2018”