Coronavirus to wipe £1.7trn off global retail sales

Coronavirus grocery shopper

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.

 

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