Loading ...Consumption will continue to rise in 2009, especially that of non-food products, even if the prices of the consumer goods will grow constantly, GfK Romania reports in the studies presented during a forum on the retail industry.
“I believe 2009 will maintain the trends of 2008, i.e. a growth of consumption, although the prices of consumer goods are likely to go up as well. I think the consumption level in Romania will continue its upward trend in the next years too, as we must be in line with the consumption of the European Union (EU)”, research executive consumer tracking GfK Romania Diana Toma told.
She said that despite the price increase of most consumer goods by more than 10% Romanians had spent 22% more money in supermarkets for consumer goods in the first six months of 2008 compared to the same period last year.
Expenditures rose by 22% in the first half-year, whereas the share of inflation was of 11.3%, the increase of purchased goods of 4.4% and the purchase of more expensive products – 4.9%.
Expenditures rose by 22% in the first half-year, whereas the share of inflation was of 11.3%, the increase of purchased goods of 4.4% and the purchase of more expensive products – 4.9%.
“However, the price evolution correlated with the latest economic instability resulted in a change of the consumers’ attitude reflected in the lowest level of the confidence indicator recorded in the past ten years”, Toma said.
According to the GfK studies, the Romanian consumers’ behaviour has changed, as the consumption of personal care products and household cleaners has risen to the disadvantage of the food products, mainly due to their price increase.
“The first 6 months of the year recorded a decrease in the consumption of some basic foodstuffs, such as oil, milk and dairy products. Consumers estimate the prices paid for food products, heating and bank instalments will continue their negative evolution”, the GfK Romania representative informed.
Producers have also predicted the upward trend of the foodstuff prices, especially due to the exchange rate increase and the rise of fuel prices.
Producers have also predicted the upward trend of the foodstuff prices, especially due to the exchange rate increase and the rise of fuel prices.
“I believe the sugar price will keep on going up, because we will instantly raise the price if the leu depreciates. This will be reflected in the prices of soft drinks and sweets, which are the consumer goods with the highest amount of sugar”, said Emilian Dobrescu, general representative of Agrana Romania, one of the most important players on the market.
Retail representatives say that, in addition to the high price of fuels and the exchange rate fluctuation, the increase of the consumer goods prices is mostly determined by the transport costs due to the heavy traffic and the lack of a well-developed infrastructure.
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