Preliminary results of an analysis on the role of retail markets to European economies were unveiled at the World Union of Wholesale Markets’ (WUWM) first retail conference last week.
It was revealed that the number of retail markets operating in EU countries is at least 25,000, with more than 450,000 retail market traders operating businesses on those markets.
More than one million people are working on retail markets in the EU, and total retail market turnover on these markets surpasses €35 billion.
WUWM called for the European Commission and member states to support market managers and traders by providing funding to enable further studies into this important sector.
The organisation would welcome increased understanding and acknowledgement by the European Commission, national and local decision-makers, as well as the general public of the importance of markets for regeneration and the economy, health, culture and tourism, community cohesion and the environment.
The event, named European Retail Markets Driving Communities, was held in Hamburg, Germany, which has more than 60 municipal and 40 private street markets.
The conference, hosted by the WUWM Retail Section, saw representatives from 11 participating countries come together to recognise that strong community involvement is a welcome and necessary part of any retail market’s ongoing development.
A WUWM statement said: “We believe that by supporting the role and well-being of markets and market traders we, in turn, support European consumers, as well as those European policies that lay beneficial foundations for all business and competition to thrive.
“We note that retail markets depend on the existence and support of a credible wholesale market network, or problems will arise whereby market traders become submerged by large players, such as discounter hyper and supermarkets. This limits competition and choice for the consumer and the ability of small and medium businesses to develop, grow and compete fairly.”
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