Greek retailer Jumbo sees signs of fatigue among Romanian consumers

The Jumbo Group is going through a period of increased attention on the local market, after recent data showed a 4% drop in sales in Romania, while other markets of the group continue to grow: +15% in Bulgaria and +11% in Greece, according to Mediafax, citing the Greek publication Financial Press.

For the fifth consecutive month, purchasing power in Romania is being squeezed, in a mix that includes a slide in the local currency and a VAT increase, the Greek outlet commented.

Indeed, the non-food retail sales edged marginally by 0.5% y/y in Q3 and contracted by 3.3% y/y in Q4, while the outlook remains gloomy as the entire economy is expected to stagnate during the first quarter of the year.

The Greek media outlet implied the market already built expectations for the postponement or even temporary “freezing” of part of the investment plans “in due course” in Romania.

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