January figures show resilient retail sales in Romania

The retail sales index (volume terms) increased by 5.3% YoY in January, Romania’s statistics office INS announced. This is more than the 4.4% YoY average advance in 2022 and the 4.2% YoY increase in Q4, while the private consumption (with the retail sales as a part of it) is broadly expected to ease to 2.7% YoY this year from a 5.5% advance in 2022.

The structure of the growth in January indicates robust consumer confidence: non-food retail sales rose by 9.1% YoY, well above average. The sales of food increased by 5.4% YoY, while the sales of car fuels shrank by 0.4% YoY.

The data comes somehow against the marketing consultancy firms that argue that the FMCG sales posted positive (nominal) growth rates only because the prices rose.

Sales of consumer goods increased last year in Romania by 15.8% in value, but the advance is exclusively due to record price increases, given that in terms of volume (number of pieces), the market has stagnated, shows an analysis by the company Nielsen market research quoted by Ziarul Financiar.

The consumers say that they will give up buying non-essential products (64% of those polled) and/or will shop in discount stores (54%), according to the same report.

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