Wednesday, May 28, 2008

Romania Retail Sales Could Double by 2010

27 May 2008
Bucharest _ The retail market in Romania could double in value in the next three years, the Belgian consultancy firm Future Lab announced at a press conference on Tuesday.

Last year, the retail market in Romania was worth € 31 billion, a 17.8-per cent increase over the previous year, Alain Thys, managing partner at Future Lab, said. According to a study quoted by Thys, retail sales, including traditional stores, hypermarkets and vegetable markets, could rise by a further 16.5 per cent this year, to Lei 121,7 billion (€ 38 billion).

Food products account for more than half of all retail sales, Thys said.

He also said that Romania has the potential to achieve retail sales of more than € 134 billion over the long term, as Belgium does at present.

Thys pointed out that Romania is now in the first phase of retail development, which includes copying patterns from more advanced economies. He said the next step should be to adapt these models to traditional Romanian models and create a new retail sales model in the country.

Future Lab will open a bureau in Romania in the coming months, to offer consultancy in retail and marketing and the real-estate business.e

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