GfK: Two Thirds Of Romanians’ Expenses Target Foods

2016 was another good year for the industry of fast moving consumer goods (FMCG), both from retailers and producers’ perspective. It was the second consecutive year when Romanians had an increased appetite for more expensive products and higher expenses, according to a study by GfK Romania.

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GfK: Two Thirds Of Romanians’ Expenses Target Foods

The FMCG market rose 3,4%, by value, on the year in 2016. Romanians buy essential goods less often, but spend more when they go shopping. When it comes to essential goods, the categories of food products still dominate Romanians’ expenses, accounting for 66%.

Modern commerce makes up 57% of Romania’s overall FMCG market. Throughout 2016, modern retailers won two percentage points compared with 2015. Supermarket and discount-type stores contributed the most to the increase in modern commerce, gaining half of percentage point, each.

The market share of the ten largest retailers rose by only one percentage point (compared with three points in 2015). Lidl and Profi are among the most active retailers when it comes to market share increase. Traditional commerce had a negative evolution throughout 2016, and the decrease by two percentage points was caused by a decline in the frequency by which Romanians shop in traditional stores.

Unlike the previous years, 2017 will be marked by inflation, due to fiscal relaxation and the lowering of the value added tax in 2015 and 2016, which anticipates a slower growth rate.

Present on the local market since 1992, GfK Romania has been the number one market research institute for 15 years, with a turnover of EUR16.2 million in 2014.

 

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