According to a property report by Savills Portugal, e-commerce is one of the areas responsible for the growth of the segment, with a forecast of revenues of around 4.72 billion euros in Portugal by the end of 2023. By 2027, this should reach a volume of 7.36 thousand million of euros. At the same time, by 2027, the number of e-commerce users in Portugal is expected to reach 5.82 million.
According to a survey carried out by Savills Portugal, there were 119 new store openings in the first half of the year, with the vast majority (56%) belonging to the restaurant sector, followed by the Fashion & Accessories sector (25%).
“After two years of severe restrictions, retail emerged in 2023 in a new context. Life has changed, the type of customer and their needs have changed and retail has been adapting in a resilient and surprising way. As we know, one of the main factors behind the success of retail activity in Portugal is tourism, which has unequivocally leveraged the growth of the restaurant offer, especially in the cities of Lisbon and Porto”, said José Galvão, Head of Retail, Savills Portugal.