On the one hand, inflation means that people have less money available at the end of the month and must choose where to spend it. However, during the covid lockdown people were compelled to stay at home and do their own cooking. The retail food sector has, in this sense, benefited from the pandemic. 2020 and 2021 were extraordinary years.

On the other hand, as people were restricted from travelling and shopping for certain goods during these difficult times, we now see an increase in traffic in shops. Clients are enjoying the shopping experience. They are looking for human contact. City centres are again full of people enjoying a walk, having a drink and visiting shops.

A side effect is that shopping on the internet and delivery services, which were very much in demand during the crisis, have decreased again, even though they will certainly remain higher compared to pre-covid times.

We are confident that the organic food sector, and the trend to buy regional products, will grow. Consumers have become more conscious of food quality, and the impact on their health and the environment. We have just opened a new shop at the Topaze shopping centre in Mersch and are definitely considering other opportunities to grow.