The historical period known for the emergence of the merchant class in Europe is the late Middle Ages, particularly during the 13th to 15th centuries. This era witnessed significant economic transformation fueled by trade expansion, the rise of towns, and the growth of markets. The establishment of guilds and the increased importance of commerce allowed merchants to gain wealth and social status, challenging the traditional feudal system dominated by landowners. The shift towards a more market-oriented economy during this time paved the way for the Renaissance and the eventual rise of capitalism in Europe.