Belgium's physical retail thriving in the digital age

Belgium's retail sector has emerged stronger from recent disruptions, defying predictions of physical store extinction. Shopping centre footfall has recovered, new brands are expanding, and the market demonstrates resilience despite e-commerce growth, inflation, and economic uncertainty. Success lies in combining strategic location with digital innovation to deliver authentic human experiences that online platforms cannot replicate.

Before 2019, the industry worried about one thing: could physical stores survive the internet? Then COVID-19 arrived, and the questions became more urgent. Would shopping centres become warehouses? Should we drastically reduce retail space?

The answer surprised everyone.

Physical retail bounced back faster and stronger than expected. Shopping centre footfall in Belgium has returned to pre-pandemic levels, according to Belgian Luxe Shopping Centre (BLSC) data tracking 22 to 24 main Belgian shopping centres. This recovery happened despite unprecedented challenges: continued e-commerce growth, 2022 inflation, political instability, and numerous bankruptcies across Belgium and Europe.

Bankruptcy trends point to recovery
 

After sharp increases during and immediately after the pandemic (2021-2022), retail and food & beverage bankruptcies in Belgium are heading toward stabilization in 2023. This data from JLL Research and Statbel indicates the market has absorbed the worst shocks and is finding its footing.

^{Source: JLL Research, 2026, Statbel}

Despite closures, Belgium has seen remarkable retail activity:

• Beauty and personal care: Douglas and Sephora continue expanding their store networks
• Fashion retail: Mango opened a flagship store on Meir in Antwerp
• Discount retail: Action and Kruidvat maintain aggressive expansion strategies
• Hospitality: Innovative food and beverage concepts have emerged across prime locations
  
  

Kruidvat's strategy demonstrates confidence in physical retail. The discount retailer opened a new store on Rue Neuve in Brussels—despite already operating a location on Boulevard Anspach nearby. This move shows that proximity doesn't mean cannibalization; different locations serve different customer flows.

Similarly, Wibra—which closed stores en masse several years ago—has returned with a renewed expansion strategy. The market is adapting and finding new momentum.

Transaction count per tenant category and asset class type in 2025 :

The new shopping reality
 

Today's consumers operate in a completely different context than pre-2019 shoppers:

Remote work has changed daily routines. Customers no longer follow predictable patterns tied to office schedules.

Price sensitivity has increased across all income levels. Belgian consumers actively use second-hand platforms regardless of their socioeconomic status.

Environmental awareness influences purchasing decisions. Sustainability concerns now factor into where and how people shop.

The second-hand revolution
 

Consider Vinted's impact. In 2024, this platform generated consolidated revenue of €813.4 million—a 36% increase from the previous year—with net profit of €76.7 million, representing 330% growth. These numbers reflect a profound transformation in buying habits. Digital second-hand platforms like Vinted and Depop facilitate millions of daily peer-to-peer transactions with minimal friction.

What physical retail offers
 

In-store shopping provides:

• Human interaction and direct customer service
• Location-dependent experiences tied to specific places
• Defined operating hours (typically 10:00-19:00)
• Clear marketing calendars (sales periods, Black Friday, seasonal events)
• Physical inventory constraints balanced by tangible product inspection
• Responsible, transparent commerce

What digital platforms have built

Online retail delivers:

• 24/7 availability without interruption
• Continuous automated promotions
• Instant algorithmic personalization
• Virtually unlimited inventory
• One-click purchasing during entertainment (TikTok Shop, Facebook Marketplace)
• Ultra-low-cost options (Temu, Shein) with daily product renewal
• Real-time pricing adjustments
• Direct shipping from Asia at minimal cost
• Constant marketing pressure through influencers, hyper-targeted advertising, push notifications, and aggressive retargeting

 

The strategic challenge for Belgian retailers: successfully integrating in-store and online shopping experiences.

Digital platforms—no matter how sophisticated—cannot replicate one fundamental element: authentic human experience.

When property owners, retailers, and technology partners like Samsung collaborate, they create something pure-play online retailers cannot deliver:

• Genuine personal service
• Empathetic customer care
• Real human connection
• Memorable experiences beyond transactions

This combination of strategic location, thoughtful tenant mix, and digital innovation creates a 360° retail experience that transcends what any e-commerce platform can offer alone.

Success in Belgium's retail market requires understanding the interconnected ecosystem:

Key stakeholders:

• Retailers executing brand strategies
• Property owners managing assets and tenant relationships
• Consumers seeking value, convenience, and experience
• Brokers facilitating connections and providing market intelligence

Each party depends on the others. When this ecosystem functions well, everyone benefits. When one element underperforms, the entire system weakens.

For retailers
 

Physical stores remain viable when they deliver experiences that justify the visit. Focus on:

• Exceptional customer service that cannot be automated
• Store environments that engage multiple senses
• Staff training that emphasizes personal connection
• Strategic location selection based on actual customer flows
• Integration of digital tools that enhance rather than replace human interaction

For property owners and developers
 

Shopping centre success depends on creating destinations, not just collections of stores. Priorities include:

• Tenant mix that balances established brands with innovative newcomers
• Common areas designed for experience and dwell time
• Technology infrastructure that enables retailer innovation
• Flexibility to adapt spaces as market demands evolve
• Partnership approaches with tenants rather than purely transactional relationships

For the market overall
 

Belgium's retail market demonstrates resilience and adaptability. The sector is not dying—it is transforming. Those who understand this evolution and act accordingly will find opportunity in the current landscape.

The data is clear: Belgian consumers have returned to physical stores. Footfall has recovered. New concepts are launching. Brands are expanding.

Physical retail survived its existential crisis because it offers something irreplaceable: the human element. No algorithm can replicate genuine service. No automated system can provide the spontaneous joy of discovery in a well-designed retail environment.

The challenge now is not survival—it is optimization. How do we combine location intelligence, digital innovation, and human experience to create retail destinations that consistently draw customers in an era of unlimited online options?

The answer lies in collaboration between property owners, retailers, and technology partners who understand that the future is not physical OR digital, but physical AND digital, integrated intelligently around the human experience.

"By working together—property owners, retailers, and technology partners—we can create something online platforms will never deliver: authentic human connection. That's where the future of retail lies,"concludes Raja Lachhab.

"The retail market is in a state of perpetual evolution, where constant adaptation is the new standard for survival and growth."

"Today's retail challenge: Managing the integration of in-store and online shopping."

"Physical retail's irreplaceable advantage is authentic human experience—genuine service, empathetic care, and real connection that no digital platform can replicate."

Explore more on Global real estate trends :

https://www.jll.com/en-belux/insights/market-outlook/global-real-estate

https://www.jll.com/en-belux/insights/market-outlook/europe-retail