Fast Market Research recommends "Slovakia Food & Drink Report Q1 2013" from Business Monitor International, now available Fast Market Research recommends "Slovakia Food & Drink Report Q1 2013" from Business Monitor International, now available
Boston, MA -- (SBWIRE) -- 03/07/2013 -- While the short- to medium-term outlook for Slovakia remains poor due to elevated unemployment and unfavourable wider economic trends, our longer-term view is positive. Indeed, as household income in Slovakia steadily increases, we expect to see a concomitant rise in domestic consumption, which should support the country's food and drink market development. We expect Slovakia to gradually move away from an export-led model of growth to one driven primarily by private consumption. Indeed, as Bratislava increasingly integrates with the eurozone, we believe there will be a considerable uptick in credit expansion, providing a significant boon to consumer spending.
Headline Industry Data (local currency)
- 2013 per capita food consumption +3.36%; forecast compound annual growth rate (CAGR) to 2017 +3.93%
- 2013 alcoholic drinks sales +3.14%; forecast CAGR to 2017 +3.91%
- 2013 soft drinks sales +2.27%; forecast CAGR to 2017 +3.49%
- 2013 mass grocery retail +4.60%; forecast CAGR to 2017 +5.41%
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Key Company Trends
Retail Sales Decline in the First Nine Months of 2012: The Slovak Statistical Office figures show that the country's retail sales decreased 1.7% year-on-year (y-o-y) to EUR1.52bn (US$1.94bn) in September 2012, having already fallen 0.9% y-o-y in constant prices in August. The country's retail sales dropped 0.3% y-o-y to EUR13.12bn (US$16.72bn) in 9M12. Discretionary spending remains subdued in light of high unemployment and difficult credit conditions.
Tesco Extends Online Grocery Shopping to Slovakia: In October 2012, the leading retail operator in Slovakia, UK-owned Tesco, launched an online grocery shopping site. The site will allow customers in the capital and select towns to place orders online and have the groceries delivered to their door. Tesco already operates online shopping schemes in the Czech Republic, Poland, the UK, Ireland and South Korea.
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