In a tough trading environment, retail markets across Europe have been affected in varying degrees by the direct and indirect impacts of price increases that are being driven by shortages of raw materials and higher energy costs and amplified by the war in Ukraine, which has now been raging for more than six months. Retail markets in Poland and in Southern European countries have proved to be relatively robust during the crisis, with Portugal even seeing positive growth. However, the effects on consumer confidence and retail activity in other parts of Europe are clearly apparent in the Global Retail Attractiveness Index (GRAI) compiled by Union Investment and GfK.
In Germany, Austria, Finland and Sweden, values fell by 15 points on average in the third quarter of 2022 compared with the same period in the previous year. The EU-15 index dropped seven points overall year-on-year in the third quarter, reaching its lowest level since the first quarter of 2021 at 106.4 points (prio
