Online revenue in the Netherlands is projected to rise by 8% in 2024, following a growth of 6% in 2023. This growth, highlighted in the latest Retail Outlook from Dutch bank ING, contrasts sharply with the overall retail revenue, which is expected to increase just 2%. This disparity underscores significant shifts within the retail landscape, notably declining supermarket sales largely attributed to the new ban on tobacco sales.
ING’s report indicates that pure online sellers are set to outperform multichannel retailers, a trend driven by consumers’ growing preference for the convenience and diverse product offerings available online. As highlighted by the researchers, many consumers are likely to continue favoring dedicated online platforms over physical stores. This ongoing shift indicates that the adaptability of sellers to the online marketplace is crucial.
However, the outlook is not solely positive. Supermarkets are projected to experience a 1.5% decline in sales, equating to a loss of approximately €1.7 billion. This is significant as it marks the first decline in supermarket sales in 20 years. Additionally, the first half of 2024 has already seen a 13% increase in business bankruptcies compared to the same period last year, with online stores accounting for nearly 29% of these closures.
Retailers face rising costs—rental, energy, and personnel expenses have surged due to inflation. The consequence is evident as many sellers encounter precarious financial positions, leading to premature closures. This calls for increased innovation and strategic planning for those operating in the Netherlands’ fluctuating retail environment.
In summary, while Dutch online sales are on the rise, the landscape presents challenges that require a comprehensive approach to maintain growth and sustainability.
