Significant Changes in Consumer Behaviour in Central and Eastern Europe Expected
Consumer and retail companies have been eyeing countries in Central and Eastern Europe (CEE) as potential target markets. The latest figures confirm strong market prospects over the next few years, as the region recovers from the global financial crisis, with Central Europe with Poland leading the way. What are some factors that new market entrants should take note of?
Growth of retail turnover in the EU (in % compared to the same month of the previous year)
Source: Eurostat
All the CEE countries have shown a dynamic growth of salaries in the last decade, in spite of a short slow-down in 2009 due to the global crisis. Forecasts for industrial production, a key factor underlying local GDPs, are optimistic for 2011.
GDP at constant prices (% change)
Unemployment rate
Note: Forecasts/estimates listed in italics
Most CEE countries have seen their currencies appreciate against the Euro and US dollar over the past few years, in favour of importers and retail operators. Slovakia and Estonia introduced the Euro in 2088 and 2011 respectively while Bulgaria has its currency pegged to the Euro.
Looking ahead, the combination of these two factors will further enhance the purchasing power of CEE customers – if the austerity measures in the budgets across the CEE regions don’t cut down the size of consumer wallets too significantly.
For
media inquiries, send an email to media(at)globalintelligence.com.
Download any of our Geographies White Papers.
More About GIA Industry Practices Automotive | Chemicals | Construction & Property Development | Consumer & Retail | Energy, Resources & Environment | Financial services | Private Equity | Logistics & Transportation | Manufacturing & Industrial | Pharmaceuticals & Healthcare | Telecommunication, Technology & Media
More About GIA Functional Practices World
Class Market Intelligence
| MI
for Strategic Planning
| MI
for Marketing & Sales
| MI
for Product & Innovation Management | MI
for Supply Chain Management
| M&A
and Partnering
More About GIA Services Monitoring Services | Strategic Analysis | Rapid Research | Intelligence Software | Intelligence Best Practices
More About GIA How we
work | Expertise
| Clients
| Case
Studies | Global
Locations | FAQ
About
Global Intelligence Alliance
Global Intelligence Alliance (GIA) is a strategic market intelligence and advisory group. GIA was formed in 1995 when a team of market intelligence specialists, management consultants, industry analysts and technology experts came together to build a powerful suite of customized solutions ranging from outsourced market monitoring services and software, to strategic analysis and advisory.
Today, we are the preferred partner for organizations seeking to understand, compete and grow in international markets. Our industry expertise and coverage of over 100 countries enables our customers to make better informed decisions worldwide.
