Page 73 - bne IntelliNews Southeastern Europe Outlook 2025

The retail landscape in Albania remains diverse, characterised by a mix of small private shops, many of them offering goods imported from EU members Italy and Greece, and the growing presence of retail chains.
Established players such as Spar and Conad have expanded their operations. SPAR Albania, operating under a licensing agreement with Balfin Group’s Almark, has grown to 90 stores as of 2024, compared to 81 at the end of 2023. The chain also introduced self-checkouts in January, a first for the Western Balkans. Meanwhile, Conad Albania, a subsidiary of Italy's Conad, continues to expand, with plans to move into neighbouring Montenegro and North Macedonia, following substantial growth over the past four years.
International brands are also making inroads into Albania. H&M entered the market in 2023, joining a fashion retail competitive landscape that already includes Inditex's portfolio of brands such as Zara and Massimo Dutti. New entrants in the food and beverage sector include MD and GoodFellas American Pizzeria. Meanwhile, Shell is set to enter the Albanian fuel retail market by 2025.
A Colliers report released in spring 2024 highlights a growing interest from Central and Eastern European (CEE) brands, spurred by Albania's increasing prominence as a tourist destination. The report notes that “Local demand has remained high, and interest from CEE brands which are studying and testing the Albanian retail market is growing.” Shopping centres remain fully occupied with waiting lists from both local and international retailers. Colliers adds that while clothing sales online are gaining traction, "nothing can replace the value of brick-and-mortar physical stores."
Shopping malls like Tirana East Gate and Toptani Shopping Mall continue to play a central role in Albania’s retail ecosystem. Beyond Tirana, shopping centres in secondary cities are also expanding to meet growing consumer demand.
Online retail lags behind other European markets, although online purchasing particularly of clothing is increasing. In the e-commerce sector, Serbia-based platform Ananas is planning to extend operations to Albania as well as other Western Balkan countries.
5.1.2 Banks
The Albanian banking sector posted a net profit of ALL28bn (€285.85mn) in the first nine months of 2024, up from ALL22bn in the same period of 2023, according to the Albanian Association of Banks (AAB).
Data from the Albanian central bank, highlighted in the AAB’s quarterly report, shows that third-quarter profits alone rose by 14.8% y/y to ALL8.6bn.
The sector's outstanding loan portfolio reached ALL787.8bn by the end of September, an increase from ALL700.8bn a year earlier. Deposits
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