In December 2019 revenues of the retail sector dropped 0.9 per cent in Europe. In 2018, sales of the sector fell 2.2 per cent. This setback breaks the upward trend that the sector experienced in recent months. Last June, fashion trade in Europe grew 2.9 per cent and touched 3.1 per cent in September but by November it was 1.5 per cent. In fact, January, May, April, and December were the only months of 2019 when the fashion sector experienced poor sales, with a decrease of 0.3 per cent, 4.8 per cent, 2.4 per cent and 0.9 per cent respectively. In the whole of European Union, the textile, clothing and footwear trade registered a year-on-year decrease of 0.2 per cent in December.

The largest increases in 2019 were recorded in Romania, Hungary, and Ireland with a year-on-year growth of 8.5 per cent, 6.1 per cent, and 5.2 per cent respectively. In Spain, the rise in trade was 1.1 per cent while Germany, France, and the United Kingdom marked increases of 0.8 per cent, 2.5 per cent and 2.9 per cent in 2019.

American shoppers are helping boost European retail market. Fashion and beauty are among the main beneficiaries of tourist spending in the UK and Europe.