"Europe’s grocery sector will remain resilient, but growth is modest — leaving cost discipline, format agility and balance‑sheet strength as the key drivers of outperformance."

"Margin pressure and rising capex push grocers toward M&A, buybacks and portfolio rationalisation."

"From downsizing legacy assets to rolling out urban formats, retailers chase proximity, speed and low‑friction shopping."

"Lean operators squeeze from below as discounters expand, testing the resilience of Europe’s grocery incumbents."

"Automation streamlines, but compliance embeds long‑term capital costs into the grocery model."

"Full-time investors and developers have become more committed compared to those looking at it as a side hustle. Meanwhile, the appetite has grown most from those looking to pick up a property for their own use."