GfK Romania: Consumer goods consumption down by 5% y/y in Jan-Sep.

By bne IntelliNews December 9, 2010
The households consumption of goods decreased by 5% y/y in January-September, expressed in current prices and in local currency, according to a report of GfK Romania. The customers became careful and demanding with their purchases since the beginning of the economic crisis in 2008, said Raluca Raschip, Consumer Tracking Director for GfK Romania. The staple foods were the segment, least affected by the cost cutting measures, contracting by only 3% y/y in the nine-month period. On the opposite, non-food non-essential products registered the highest decrease by over 9% y/y. The report commented also on a shift toward more purchasing of private level goods, i.e. goods under retailers' own brands. The Romanian retail market is still very fragmented with the top 5 retailers covering only 22% of FMCG compared to 70% in Slovakia, the report said, concluding that there is still room for consolidation.

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