New Food market report from Business Monitor International: "Czech Republic Food & Drink Report Q1 2013"
Boston, MA -- (SBWIRE) -- 02/04/2013 -- The Czech consumer outlook continues to remain extremely challenging. We forecast the Czech economy will remain in recession this year to the tune of 0.7% before recovering to 0.8% real GDP growth in 2013. Additionally, the ongoing eurozone sovereign debt crisis will continue to depress domestic activity in the Czech Republic via weaker exports and investments. Meanwhile, the government's sustained fiscal austerity drive will result in lower household spending.
Headline Industry Data (local currency)
- 2013 per capita food consumption = -0.39%; forecast to 2017 = +8.1%
- 2013 beer volume sales = -0.02%; forecast to 2017 = +0.11%
- 2013 confectionery volume sales = +2.61%; forecast to 2017 = +13.6%
- 2013 mass grocery retail (MGR) sales = +2.64%; forecast to 2017 = +23.5%
Key Company Trends
Temporary Ban Imposed on Hard Alcohol: In September 2012, the health ministry in the Czech Republic decided to temporarily ban the sale of liquors with more than 20% alcohol content. The temporary ban was imposed after deadly methanol poisonings, for which the government imposed a partial ban on the sales of hard liquor in kiosks, street stalls and markets. The Czech Union of Alcohol Producers and Importers estimates the ban may result in a loss of hundreds of millions of crowns. Following the hard alcohol ban, restaurants in the Czech Republic may lose about CZK200mn (US$10.5mn) a day, which in turn, is expected to boost sales of wine and beer in the country.
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Hypermarkets Preferred Shopping Destination: Citing a study by GfK Incoma in August 2012, it has - been found that Czechs continue to prefer hypermarkets over other retail formats, with 45% respondents choosing hypermarkets over other shopping destination for purchasing grocery products. The second preferred format was discount stores (23%). About 18% of respondents indicated supermarkets as their grocery shopping destination for foodstuffs, while 13% voted for small self-service shops.
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