Lidl Romania: Consumption will continue to increase next year

Lidl Romania, one of the biggest local supermarket chains, expects local consumption to continue on a positive trend in 2017, reports local Profit.ro. Romania has recorded increases of 7-9% in consumption in the last three years, most of them supported by higher income, lower VAT rate on food, and the general reduction of the VAT rate. The retailer will continue its expansion and plans to open ten new stores next year, reaching 215 units. The company’s representatives see potential for reaching a total number of 300 units in Romania. "We are satisfied. We’ve had increases every year, customers appreciate us. We expect consumption growth next year," said Sergiu Fala, member of Lidl’s board of directors. Lidl opens its newest store today, in Bucharest’s Aviatiei area. The store has been built by Swedish group Skanska, which is also working on an office building where Lidl will move its headquarters. Last year, Lidl Romania posted a turnover of EUR 1.06 billion, up 21.5% year-on-year. Its net profit amounted to EUR 38.7 million, 2.8 times higher compared to 2014. editor@romania-insider.com