Swedish Stores Are Closing Shop

According to the latest report of HUI Research, the number of retail stores decreased from 35953 to 33688 in 2017 to 2018, a decrease of 6%. At present, the entity store in the market is dominated by chain group.

According to the report of the Institute of retail and tourism, the total number of shopkeepers completed during the above period was 4222, although the number of newly opened shops was 1957, but it was still unable to withstand the wave. The growing e-commerce is still the main reason for closing the store.

Andreas Svensson, a senior analyst at the Swedish retail and Tourism Research Institute, said that although the current economic boom in Sweden is still strong and the population is growing, retail entities are still facing difficulties because more and more consumers are turning to online shopping, and retailers are also increasing the number of online sales to adapt to new consumption habits. Such consumption transformation reduces the demand for physical stores and increases the demand for central storage.

Although the number of shop closes increased, the chain stores' stores increased by 5% in reverse, while 61% of all retail stores now belong to chain groups with 20454 households.