Romania, among highest growth rates in retail sales in EU

Romania’s stationary retail turnover, which is traditional retail and doesn’t include online, grew by 4.9 percent last year to some EUR 26 billion. Romania’s increase in retail sales is among the highest in Europe, and was only matched by Poland and the Baltic states, according to a research published by Gfk. For this year, Gfk also estimates that Romania’s retail sales will continue to have one of the highest growth rates in Europe, with 4.3 percent. The only markets that are even more dynamic than Romania are Turkey, with plus 9.5 percent estimated for this year, and the Baltic states, with around 5 percent growth rates. For the European Union’s 28 states, retail growth is expected to be modest this year, at 0.6 percent. Last year, retail sales in the EU declined by 0.9 percent. Online trade is placing increasing pressure on stationary retail throughout Europe. Retail spending in Romania represents only 29 percent of total private consumption, which is one of the lowest share in Europe. The retail share varies among the countries under review due to differing shopping cultures, lifestyles and consumer behavior. As a general rule, inhabitants in regions with low per-capita income must spend a greater proportion of their income on retail purchases related to basic needs, the Gfk study shows. editor@romania-insider.com