Large Retailers In Romania Post Growth Of 12% In 2018
Large retailers operating in Romania, mainly in shopping malls, posted 12% in turnover last year, according to figures from Cushman & Wakefield Echinox.
The data looked at the growth of 88 retail groups operating around 100 banners in the country.
As well as food and beverage and FMCG, the study also took in areas such as consumer electronics, cosmetics, fashion and footwear.
It found that these major retailers operated more than 5,000 stores at year-end, an increase of 487 units, compared to an increase of 522 units in 2017.
The cumulative turnover of said businesses was €15.37 billion, which gives them a combined market share of more than 40% of the overall market.
“The 2018 evolution shows that large retailers with tens or hundreds of stores continue to gain market share both organically and by expansion,” commented Cristi Moga, Head of Research, Cushman & Wakefield Echinox.
“Even if 2018 was not a breakthrough year in terms of deliveries of new retail space, and the few openings were also concentrated in the last months of the year, most retailers have found resources to grow based on wage increases and purchasing power, inflation and also online commerce.”
© 2019 European Supermarket Magazine – your source for the latest retail news. Article by Stephen Wynne-Jones. Click subscribe to sign up to ESM: European Supermarket Magazine.