CEE | Powierzchnie handlowe
CEE the Retail
CEE the RetailRobust growth of national economies, rise in employment, growth of salaries and purchasing power, all these factors demonstrate that the CEE region has been flourishing for the last couple of years.
Robust growth of national economies, rise in employment, growth of salaries and purchasing power, all these factors demonstrate that the CEE region has been flourishing for the last couple of years.
The retail industry benefits massively from these positive economic trends. Tight labour markets and robust growth of wages resulted in rising consumer confidence which spurred consumer spending. Over the last five years retail turnover across the CEE countries has soared by over 20%, with Romania leading the group and recording a stellar increase by 36%. Although retail sales growth is expected to soften, it will still remain healthier than in the Eurozone.
Another important socio-economic factor which clearly contributes to extensive potential of the retail sector in the CEE region is a rapid growth of the pool of middle-class shoppers. Aspirations of consumers have been steadily growing and now they are more demanding of products, services and brands than ever before. Although the selection of renowned, international brands in the region is good, there are still market gaps and opportunities for newcomers which remain untapped.
All these factors underpin the high potential of the region as a destination for retail expansion.