The Retail sector in Norway is one of the world's leading businesses, with manufacturing ranging from consumer goods like food and beverage, clothes, accessories and other consumables to hardware, electronics and mechanical equipment. A large proportion of the nation's total Gross Domestic Product (GDP) comes in the retail sector, which accounts for approximately 20 percent of their entire earnings of the Norwegian economy. Norway's retail business is highly diversified, with lots of the world's leading brands as manufacturers and distributors. Some of the very popular titles in the retail industry in Norway are Confectionery International Norge, Carlsberg Breweries, Lufthansa, Rieger Group, Fortius, Vosserige and Moret.
Norway's wholesale and retail sector has traditionally been based on the potency of its fishing, farming and tourism businesses, but over recent years these activities have declined. Although this trend may well change later on, it's a cause for concern among the merchants and wholesalers in Norway, that are watching their gross profits and investments carefully. The downturn in the retail marketplace has affected the whole retail and wholesale sector in Norway, with a few companies experiencing substantial difficulties. The general effect of the retail industry decrease is to boost competition, with the consequence that wholesale costs have risen, the margins for the retailers have decreased and there's pressure on wholesalers to keep to supply enough stock at competitive prices.
Norway is a small country, with a population of just more than 5 million people. Its main cities are Oslo and Akershus, together with the capital, Copenhagen situated to the south. The marketplace for retail and wholesale products is essential to Norwegian merchants, that export a large percentage of their yearly goods. Norway's abundance of natural resources and low labour costs combine to make it an attractive destination for both producers and exporters to source their raw materials.
Norway's retail market has been characterized by consistency over time. It has one of the lowest turnover rates in Europe and is a quick growing country. This has helped it to create a highly efficient and competitive retail business that satisfies the requirements of its clients. The accelerated growth and development of the Norwegian economy have led to a slow increase in the demand for retail goods.