• Retail trade in Valencia accounts for 5.1% of the GDP of the Valencian Community
- The sustainability of retail trade in Valencia depends on digitalization and adaptation to the new demands of consumers, as concluded in a study promoted by the City Council in collaboration with ESIC Valencia
- The study provides a current overview of the situation of retail trade in the city, which represents 33% of the commercial establishments in the Valencian Community
- “The study will serve as a working tool to continue implementing new measures and collaboration lines with the retail trade in the city that allow us to strengthen its activity and presence in all neighborhoods and districts of Valencia,” highlighted councilor Santiago Ballester
The councilor of Markets and Commerce, Santiago Ballester, presented on Tuesday a study on the retail trade in Valencia, entitled “Retail Trade in Valencia: Current Analysis, Trends, and Future Projections”, developed in collaboration between the City Council and ESIC Valencia. Among its conclusions, it points out that this economic sector, “essential for the economic activity of the city,” faces the challenge of digitalization and adaptation to the new demands of consumers to address its sustainability and expansion.
The study, as explained by Ballester in the press conference, “will serve us in the City Council as a working tool to continue implementing new measures and collaboration lines with the retail trade in the city that allow us to strengthen its activity and presence in all neighborhoods and districts of Valencia.”
According to the analysis conducted between 2021 and 2024, retail trade in Valencia represents 33% of the establishments in the Valencian Community and 5.1% of its GDP, 9.7% when considering its direct and indirect impact, “clearly indicating that this economic activity is strategic for the city,” highlighted the Commerce councilor.
The study determines that central areas like Ciutat Vella and l’Eixample “continue to lead” in the presence of retail trade “thanks to their tourist appeal and purchasing power.” On the other hand, “emerging residential areas like Benicalap and Quatre Carreres offer growth opportunities, especially for mixed businesses,” while “peripheral areas require a strategic focus to stimulate local trade, especially in non-food industrial products.”
The survey conducted on retail trade also indicates that the district with the highest number of closures of establishments is Ciutat Vella (17.7%), followed by l’Eixample (14.7%), Jesús (14%), Quatre Carreres (13.6%), Benicalap (6.8%), Camins al Grau (6.4%), and Poblats Marítims (6%)
Digitalization
One of the most highlighted aspects of the report points out the need for the digital transformation of the sector. Current trends show that customers of retail trade are increasingly using digital channels and tools to make their purchases. Therefore, the study warns that retail trade in Valencia must face this challenge of digitalization, as 71% of businesses still lack a website, indicating a significant room for improvement in terms of competitiveness and sustainability.
Among the recommendations of the report, in addition to the need to promote digitalization, they also highlight support for microenterprises and the establishment of differentiated strategies for each area of the city, in order to strengthen the commercial fabric, ensure social cohesion, and preserve the neighborhood identity.
