German retailers rely on the stationary sales areas and do not let factors such as material shortages, delivery bottlenecks and price increases stop them.
Retail companies invested billions in shopfitting last year. This was the result of the “Shop Monitor 2023” study by the EHI, a research, training and consulting institute for retail. 9.12 billion euros were spent in 2022 on the construction, technology and appearance of the stores.
“The investment requirement for a new store has increased by up to 20 percent in recent years, especially in food, drugstore and price-oriented specialty stores,” explains Claudia Horbert, head of the research department store planning and fittings at the EHI. But the retailers surveyed, for whom expansion is more restricted, are also investing. For 68 percent of the trading companies, the focus is on conversion and repair measures.
Fashion retail: Setup costs increase by more than 20 percent
According to the study, furnishing costs in the textile, shoe and sports retail sector have risen by 22 percent to 653 euros per square meter of retail space. Nevertheless, a high-quality shop appearance and detailed goods presentation remain particularly important in store design. Since new shops are supposed to become the flagship.
Price increases ensure that large investments in new buildings and conversions are more difficult to realise. That’s why the trade relies on more flexible shopfitting, in which the reprocessing and further use of shop fittings plays an important role. This saves costs, but it also makes the store more sustainable and flexible in its versatile use – the sales area becomes a community meeting place or pop-up event.
The “Shop Monitor 2023” study was presented on Monday at the Euroshop trade fair and is based on 50 interviews with shopfitting experts in all retail sectors.