市場調査レポート
商品コード
1257279

米国の小売市場

Retail in the US

出版日: | 発行: Euromonitor International | ページ情報: 英文 131 Pages | 納期: 即日から翌営業日

価格
価格表記: USDを日本円(税抜)に換算
本日の銀行送金レート: 1USD=152.41円
米国の小売市場
出版日: 2023年04月04日
発行: Euromonitor International
ページ情報: 英文 131 Pages
納期: 即日から翌営業日
  • 全表示
  • 概要
  • 目次
概要

2021年、米国の小売業界で最も重要な話題は、間違いなくCOVID-19の大流行がもたらす継続的な影響でした。春から(そして年末にかけては、オミクロン株ウイルスが全米に急速に拡散し始めたため、その程度は低くはありましたが)米国の多くの地域で消費者は2020年と同じように行動し、ウイルスに感染・伝播することを恐れて、多くの人が混雑しそうな店舗にできるだけ近づかないようにしていました。

当レポートでは、米国の小売市場について調査し、市場規模、企業シェア、ブランドシェア、流通データ、主要企業のプロファイル・業績・直面する課題の分析など、詳細な情報を提供しています。

目次

目次と表のリスト

エグゼクティブサマリー

  • 2022年の小売:全体像
  • KrogerとAlbertsonsの合併案が米国の食料品小売を揺るがす
  • 2022年、米国の消費者の目はプライベートブランド製品へ
  • 小売で次に来るのは?

動作環境

  • 非公式の小売
  • 実店舗の営業時間
  • 季節性

市場データ

免責事項

ソース

米国のコンビニエンスストア

米国のディスカウントストア

米国のハイパーマーケット

米国のスーパーマーケット

米国の地域の小規模食料品店

米国のアパレル・フットウェア専門店

米国の電化製品・電子機器専門店

米国の健康・美容専門店

米国の家庭用品専門店

米国の総合小売店

米国の直接販売

米国の自動販売機

米国の小売Eコマース

目次
Product Code: RTUS

In 2021, the most important story in retail in the US was undoubtedly the ongoing impact of the COVID-19 pandemic. Through the spring (and again, to a lesser extent, towards the very end of the year, as the Omicron variant of the virus began to spread rapidly throughout the country) consumers in many parts of the US behaved much as they had in 2020, as the fear of contracting or transmitting the virus kept many away from potentially crowded stores as much as possible. This meant retail e-commerc...

Euromonitor International's Retail in USA report offers insight into key trends and developments driving the industry. The report examines all retail channels to provide sector insight. Channels include hypermarkets, supermarkets, discounters, convenience stores, mixed retailers, health and beauty retailers, clothing and footwear retailers, furniture and furnishing stores, DIY and hardware stores, durable goods retailers, leisure and personal goods retailers. There are profiles of leading retailers, with analysis of their performance and the challenges they face. There is also analysis of non-store retailing: vending; homeshopping; internet retailing; direct selling, as available.

Product coverage: Retail E-Commerce, Retail Offline.

Data coverage: market sizes (historic and forecasts), company shares, brand shares and distribution data.

Why buy this report?

  • Get a detailed picture of the Retail market;
  • Pinpoint growth sectors and identify factors driving change;
  • Understand the competitive environment, the market's major players and leading brands;
  • Use five-year forecasts to assess how the market is predicted to develop.

TABLE OF CONTENTS

List Of Contents And Tables

EXECUTIVE SUMMARY

  • Retail in 2022: The big picture
  • A proposed merger between Kroger and Albertsons rocks US grocery retail
  • US consumers turn to private label products in 2022
  • What next for retail?

OPERATING ENVIRONMENT

  • Informal retail
  • Opening hours for physical retail
  • Summary 1 Standard Opening Hours by Channel Type 2022
  • Seasonality

MARKET DATA

  • Table 1 Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2017-2022
  • Table 2 Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2017-2022
  • Table 3 Sales in Retail Offline by Channel: Value 2017-2022
  • Table 4 Sales in Retail Offline by Channel: % Value Growth 2017-2022
  • Table 5 Retail Offline Outlets by Channel: Units 2017-2022
  • Table 6 Retail Offline Outlets by Channel: % Unit Growth 2017-2022
  • Table 7 Sales in Retail E-Commerce by Product: Value 2017-2022
  • Table 8 Sales in Retail E-Commerce by Product: % Value Growth 2017-2022
  • Table 9 Grocery Retailers: Value Sales, Outlets and Selling Space 2017-2022
  • Table 10 Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 11 Sales in Grocery Retailers by Channel: Value 2017-2022
  • Table 12 Sales in Grocery Retailers by Channel: % Value Growth 2017-2022
  • Table 13 Grocery Retailers Outlets by Channel: Units 2017-2022
  • Table 14 Grocery Retailers Outlets by Channel: % Unit Growth 2017-2022
  • Table 15 Non-Grocery Retailers: Value Sales, Outlets and Selling Space 2017-2022
  • Table 16 Non-Grocery Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 17 Sales in Non-Grocery Retailers by Channel: Value 2017-2022
  • Table 18 Sales in Non-Grocery Retailers by Channel: % Value Growth 2017-2022
  • Table 19 Non-Grocery Retailers Outlets by Channel: Units 2017-2022
  • Table 20 Non-Grocery Retailers Outlets by Channel: % Unit Growth 2017-2022
  • Table 21 Retail GBO Company Shares: % Value 2018-2022
  • Table 22 Retail GBN Brand Shares: % Value 2019-2022
  • Table 23 Retail Offline GBO Company Shares: % Value 2018-2022
  • Table 24 Retail Offline GBN Brand Shares: % Value 2019-2022
  • Table 25 Retail Offline LBN Brand Shares: Outlets 2019-2022
  • Table 26 Retail E-Commerce GBO Company Shares: % Value 2018-2022
  • Table 27 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
  • Table 28 Grocery Retailers GBO Company Shares: % Value 2018-2022
  • Table 29 Grocery Retailers GBN Brand Shares: % Value 2019-2022
  • Table 30 Grocery Retailers LBN Brand Shares: Outlets 2019-2022
  • Table 31 Non-Grocery Retailers GBO Company Shares: % Value 2018-2022
  • Table 32 Non-Grocery Retailers GBN Brand Shares: % Value 2019-2022
  • Table 33 Non-Grocery Retailers LBN Brand Shares: Outlets 2019-2022
  • Table 34 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: Value 2022-2027
  • Table 35 Forecast Sales in Retail by Retail Offline vs Retail E-Commerce: % Value Growth 2022-2027
  • Table 36 Forecast Sales in Retail Offline by Channel: Value 2022-2027
  • Table 37 Forecast Sales in Retail Offline by Channel: % Value Growth 2022-2027
  • Table 38 Forecast Retail Offline Outlets by Channel: Units 2022-2027
  • Table 39 Forecast Retail Offline Outlets by Channel: % Unit Growth 2022-2027
  • Table 40 Forecast Sales in Retail E-Commerce by Product: Value 2022-2027
  • Table 41 Forecast Sales in Retail E-Commerce by Product: % Value Growth 2022-2027
  • Table 42 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 43 Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
  • Table 44 Forecast Sales in Grocery Retailers by Channel: Value 2022-2027
  • Table 45 Forecast Sales in Grocery Retailers by Channel: % Value Growth 2022-2027
  • Table 46 Forecast Grocery Retailers Outlets by Channel: Units 2022-2027
  • Table 47 Forecast Grocery Retailers Outlets by Channel: % Unit Growth 2022-2027
  • Table 48 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 49 Non-Grocery Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
  • Table 50 Forecast Sales in Non-Grocery Retailers by Channel: Value 2022-2027
  • Table 51 Forecast Sales in Non-Grocery Retailers by Channel: % Value Growth 2022-2027
  • Table 52 Forecast Non-Grocery Retailers Outlets by Channel: Units 2022-2027
  • Table 53 Forecast Non-Grocery Retailers Outlets by Channel: % Unit Growth 2022-2027

DISCLAIMER

SOURCES

  • Summary 2 Research Sources

CONVENIENCE RETAILERS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Convenience retailers sees rising sales despite labour and supply chain issues
  • Delivery plays a significant role for convenience retailers in the US
  • Loyalty programmes continue to grow

PROSPECTS AND OPPORTUNITIES

  • Competition in the convenience retailers space is likely to intensify
  • Merchandise sales mix will continue to shift for convenience retailers
  • Payments strategy will continue to evolve

CHANNEL DATA

  • Table 54 Convenience Retailers: Value Sales, Outlets and Selling Space 2017-2022
  • Table 55 Convenience Retailers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 56 Sales in Convenience Retailers by Channel: Value 2017-2022
  • Table 57 Sales in Convenience Retailers by Channel: % Value Growth 2017-2022
  • Table 58 Convenience Retailers GBO Company Shares: % Value 2018-2022
  • Table 59 Convenience Retailers GBN Brand Shares: % Value 2019-2022
  • Table 60 Convenience Retailers LBN Brand Shares: Outlets 2019-2022
  • Table 61 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 62 Convenience Retailers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
  • Table 63 Forecast Sales in Convenience Retailers by Channel: Value 2022-2027
  • Table 64 Forecast Sales in Convenience Retailers by Channel: % Value Growth 2022-2027

DISCOUNTERS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Value growth of discounters ticks upwards in 2022 as inflation drives sales
  • Aldi remains the discounter to beat in the US
  • Grocery Outlet sees strong growth in discounters in the US in 2022

PROSPECTS AND OPPORTUNITIES

  • Discounters poised to continue to make gains in grocery retailers
  • Discounters' focus on private label will remain a key differentiator
  • Aldi's digital initiatives will reduce its dependence on Instacart

CHANNEL DATA

  • Table 65 Discounters: Value Sales, Outlets and Selling Space 2017-2022
  • Table 66 Discounters: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 67 Discounters GBO Company Shares: % Value 2018-2022
  • Table 68 Discounters GBN Brand Shares: % Value 2019-2022
  • Table 69 Discounters LBN Brand Shares: Outlets 2019-2022
  • Table 70 Discounters Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 71 Discounters Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

HYPERMARKETS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Excess inventory weighs on hypermarket operators' profitability in 2022
  • Inflation causes groceries to outperform other product categories
  • Walmart remains dominant in hypermarkets

PROSPECTS AND OPPORTUNITIES

  • Buy now, pay later financing comes for groceries and household essentials
  • The hypermarkets channel will remain at the forefront of omnichannel innovation
  • Hypermarkets increasingly offer subscription services

CHANNEL DATA

  • Table 72 Hypermarkets: Value Sales, Outlets and Selling Space 2017-2022
  • Table 73 Hypermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 74 Hypermarkets GBO Company Shares: % Value 2018-2022
  • Table 75 Hypermarkets GBN Brand Shares: % Value 2019-2022
  • Table 76 Hypermarkets LBN Brand Shares: Outlets 2019-2022
  • Table 77 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 78 Hypermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

SUPERMARKETS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Kroger and Albertsons announce merger plans
  • Inflation has a significant impact on supermarkets in the US
  • Supermarkets adopt a policy of trial and error for self-checkout and scan-and-go

PROSPECTS AND OPPORTUNITIES

  • US supermarkets are developing into retail media networks
  • Locally sourced products and healthy eating will gain popularity
  • Blurring the line between grocery and foodservice

CHANNEL DATA

  • Table 79 Supermarkets: Value Sales, Outlets and Selling Space 2017-2022
  • Table 80 Supermarkets: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 81 Supermarkets GBO Company Shares: % Value 2018-2022
  • Table 82 Supermarkets GBN Brand Shares: % Value 2019-2022
  • Table 83 Supermarkets LBN Brand Shares: Outlets 2019-2022
  • Table 84 Supermarkets Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 85 Supermarkets Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

SMALL LOCAL GROCERS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Small local grocers benefits from consumer loyalty
  • Economic disruptions may prove a minor advantage to small local grocers
  • Despite growth, competition remains tight for small local grocers

PROSPECTS AND OPPORTUNITIES

  • Economic pressure could cause consumers to switch grocery channels
  • Small local grocers will increasingly leverage technology to power growth
  • USDA invests in expanding SNAP benefits for online shopping

CHANNEL DATA

  • Table 86 Small Local Grocers: Value Sales, Outlets and Selling Space 2017-2022
  • Table 87 Small Local Grocers: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 88 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 89 Small Local Grocers Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

APPAREL AND FOOTWEAR SPECIALISTS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Apparel and footwear specialists feels the sting of inflation in 2022
  • In a tough year for off-price apparel specialists, TJX remains the gold standard
  • In a challenging market, lululemon athletica maintains robust sales growth in 2022

PROSPECTS AND OPPORTUNITIES

  • Apparel and footwear specialists likely to have trouble driving offline growth
  • Fast fashion mainstays will struggle to compete as Shein presses its advantage
  • Gap's partnerships with Walmart and Amazon could signal more trouble to come

CHANNEL DATA

  • Table 90 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space 2017-2022
  • Table 91 Apparel and Footwear Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 92 Apparel and Footwear Specialists GBO Company Shares: % Value 2018-2022
  • Table 93 Apparel and Footwear Specialists GBN Brand Shares: % Value 2019-2022
  • Table 94 Apparel and Footwear Specialists LBN Brand Shares: Outlets 2019-2022
  • Table 95 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 96 Apparel and Footwear Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

APPLIANCES AND ELECTRONICS SPECIALISTS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Appliances and electronics specialists declines in 2022, after rebound in 2021
  • Sears Hometown declares bankruptcy and liquidates all its remaining stores
  • Apple posts a positive performance during a tough year for the channel

PROSPECTS AND OPPORTUNITIES

  • Future channel growth in question due to ongoing economic uncertainty
  • Best Buy invests in outlet stores focused on discounted goods
  • Inventory management presents a challenge for retailers

CHANNEL DATA

  • Table 97 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space 2017-2022
  • Table 98 Appliances and Electronics Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 99 Appliances and Electronics Specialists GBO Company Shares: % Value 2018-2022
  • Table 100 Appliances and Electronics Specialists GBN Brand Shares: % Value 2019-2022
  • Table 101 Appliances and Electronics Specialists LBN Brand Shares: Outlets 2019-2022
  • Table 102 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 103 Appliances and Electronics Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027

HEALTH AND BEAUTY SPECIALISTS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • As US consumers move past the pandemic, growth for pharmacies slows in 2022
  • In 2022, beauty specialists proves resilient
  • Ulta and Sephora both pursue a shop-in-shop strategy

PROSPECTS AND OPPORTUNITIES

  • Pharmacies reducing hours and closing stores could push shoppers online
  • Bath & Body Works hopes its loyalty programme will help drive sales growth
  • Warby Parker doubles down on physical retail

CHANNEL DATA

  • Table 104 Health and Beauty Specialists: Value Sales, Outlets and Selling Space 2017-2022
  • Table 105 Health and Beauty Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 106 Sales in Health and Beauty Specialists by Channel: Value 2017-2022
  • Table 107 Sales in Health and Beauty Specialists by Channel: % Value Growth 2017-2022
  • Table 108 Health and Beauty Specialists GBO Company Shares: % Value 2018-2022
  • Table 109 Health and Beauty Specialists GBN Brand Shares: % Value 2019-2022
  • Table 110 Health and Beauty Specialists LBN Brand Shares: Outlets 2019-2022
  • Table 111 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 112 Health and Beauty Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
  • Table 113 Forecast Sales in Health and Beauty Specialists by Channel: Value 2022-2027
  • Table 114 Forecast Sales in Health and Beauty Specialists by Channel: % Value Growth 2022-2027

HOME PRODUCTS SPECIALISTS IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Growth in home improvement and gardening stores comes back down to earth
  • High inflation halts the momentum of homewares and home furnishing stores
  • IKEA retreats from New York City

PROSPECTS AND OPPORTUNITIES

  • Outlet numbers expected to decline for all channels in home products specialists
  • Bed Bath & Beyond stands on the verge of bankruptcy
  • With its IPO plans on hold, Mattress Firm could be sold by its parent company

CHANNEL DATA

  • Table 115 Home Products Specialists: Value Sales, Outlets and Selling Space 2017-2022
  • Table 116 Home Products Specialists: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 117 Sales in Home Products Specialists by Channel: Value 2017-2022
  • Table 118 Sales in Home Products Specialists by Channel: % Value Growth 2017-2022
  • Table 119 Home Products Specialists GBO Company Shares: % Value 2018-2022
  • Table 120 Home Products Specialists GBN Brand Shares: % Value 2019-2022
  • Table 121 Home Products Specialists LBN Brand Shares: Outlets 2019-2022
  • Table 122 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 123 Home Products Specialists Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
  • Table 124 Forecast Sales in Home Products Specialists by Channel: Value 2022-2027
  • Table 125 Forecast Sales in Home Products Specialists by Channel: % Value Growth 2022-2027

GENERAL MERCHANDISE STORES IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • The second half of the year erodes most of department stores' sales gains in 2022
  • Inflation impacts profitability of variety stores
  • Macy's launches its own e-commerce marketplace

PROSPECTS AND OPPORTUNITIES

  • The fortunes of department stores and variety stores will continue to diverge
  • Despite rising costs, Dollar General remains committed to expansion
  • The future of Kohl's is increasingly uncertain

CHANNEL DATA

  • Table 142 General Merchandise Stores: Value Sales, Outlets and Selling Space 2017-2022
  • Table 143 General Merchandise Stores: Value Sales, Outlets and Selling Space: % Growth 2017-2022
  • Table 144 Sales in General Merchandise Stores by Channel: Value 2017-2022
  • Table 145 Sales in General Merchandise Stores by Channel: % Value Growth 2017-2022
  • Table 146 General Merchandise Stores GBO Company Shares: % Value 2018-2022
  • Table 147 General Merchandise Stores GBN Brand Shares: % Value 2019-2022
  • Table 148 General Merchandise Stores LBN Brand Shares: Outlets 2019-2022
  • Table 149 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space 2022-2027
  • Table 150 General Merchandise Stores Forecasts: Value Sales, Outlets and Selling Space: % Growth 2022-2027
  • Table 151 Forecast Sales in General Merchandise Stores by Channel: Value 2022-2027
  • Table 152 Forecast Sales in General Merchandise Stores by Channel: % Value Growth 2022-2027

DIRECT SELLING IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Economic headwinds challenge direct selling
  • Government considers tighter restrictions on direct sellers
  • Strong labour market causes a drop in direct selling recruitment

PROSPECTS AND OPPORTUNITIES

  • Direct selling set to achieve only minor growth
  • TikTok launches live selling in the US
  • Consumer health products will remain an important contributor to direct selling

CHANNEL DATA

  • Table 126 Direct Selling by Product: Value 2017-2022
  • Table 127 Direct Selling by Product: % Value Growth 2017-2022
  • Table 128 Direct Selling GBO Company Shares: % Value 2018-2022
  • Table 129 Direct Selling GBN Brand Shares: % Value 2019-2022
  • Table 130 Direct Selling Forecasts by Product: Value 2022-2027
  • Table 131 Direct Selling Forecasts by Product: % Value Growth 2022-2027

VENDING IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • Subway launches nationwide vending machines
  • Contactless payments continue their momentum
  • Return to the office benefits vending

PROSPECTS AND OPPORTUNITIES

  • Smart vending continues to gain steam in the US market
  • Sustainability continues to drive vending innovation
  • CBD creates a path for growth

CHANNEL DATA

  • Table 132 Vending by Product: Value 2017-2022
  • Table 133 Vending by Product: % Value Growth 2017-2022
  • Table 134 Vending Forecasts by Product: Value 2022-2027
  • Table 135 Vending Forecasts by Product: % Value Growth 2022-2027

RETAIL E-COMMERCE IN THE US

KEY DATA FINDINGS

2022 DEVELOPMENTS

  • E-commerce sales growth slows dramatically in 2022
  • The ultrafast delivery boom comes to an end
  • Amazon retains its lead in retail e-commerce, but its growth slows

PROSPECTS AND OPPORTUNITIES

  • E-commerce enters middle-age in the US
  • The US is surpassed by China as the largest retail e-commerce market globally
  • Grocery retailers will increasingly bring e-commerce fulfilment in-house

CHANNEL DATA

  • Table 136 Retail E-Commerce by Product and Category: Value 2017-2022
  • Table 137 Retail E-Commerce by Product and Category: % Value Growth 2017-2022
  • Table 138 Retail E-Commerce GBO Company Shares: % Value 2018-2022
  • Table 139 Retail E-Commerce GBN Brand Shares: % Value 2019-2022
  • Table 140 Forecast Retail E-Commerce by Product and Category: Value 2022-2027
  • Table 141 Forecast Retail E-Commerce by Product and Category: % Value Growth 2022-2027