The pandemic emergency sped up the change to online business in Europe by four to five years, particularly in the retail area, uncovers the review “European food retailers: The bitter digital aftertaste of the Covid-19 legacy”, by Euler Hermes, investor of COSEC – Credit Insurance Agency.

In the five primary European business sectors – the UK, France, Italy, Spain and Germany – the penetration of online business in the sales of supermarket items changes somewhere in the range of 3% and 11%. in the last year alone, yearly development in retail deals through digital channels was 5.3% – practically twofold the normal development recorded throughout recent years, driven by a more noteworthy number of home-prepared meals and an expansion in searching for individual cleanliness and family household items.

During the first 2 quarters of the current year, deals through online business became by 2.4%, notwithstanding the gradual opening of bars and restaurants. As per COSEC investor financial experts, this pattern ought to proceed no matter what the help of measures to control the pandemic.

In any case, the review cautions that this development could adversely affect the area’s benefit, since the high working expenses are not reflected in the value introduced to buyers. It is assessed that every rate point of buys moved to online channels will suggest losses in excess of 13 billion euros in sales and just about 2 billion euros in profits in the income of food retail companies, identical to 4% of the total.