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Romania Retail Report Q1 2014 - New Study Released

New Retailing research report from Business Monitor International is now available from Fast Market Research

 

Boston, MA -- (SBWIRE) -- 01/06/2014 -- Romania's retail sector is going to continue to grow over the next four years and has a projected total spend of US$ 116bn in 2014. There will be a decline in population, but this will be offset by the increase in GDP from US$ 192bn in 2014 to US$ 264bn in 2018. We expect this to create an increase in total net income per household and project an expansion in the number of households earning US$ 10,000+. There will be opportunities for investment and the growth of middle-income retail outlets will expand.

We project that the percentage of households earning more that US$ 10,000 per year will increase by over 20% over the next 4 years from 40.2% in 2014 to 62.6% in 2018. This will have an impact on increasing net income which will grow from US$10,527 in 2014 to US$14,689 in 2018 while be forecast net income per capita to increase from US$3,419 in 2014 to US$4,767 by 2018.

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In 2014 household spending on essentials still account for the majority of the budget, with food and drink, housing & utilities, and transport remaining the clear market leaders. Their total market shares for 2013 are 27.4%, 22.7% and 14.4% respectively.

We see strong growth in household spending on health, furnishings and household goods, personal care and insurance sectors, indicating an expansion of consumer demands as a result of overall quality of life improvements. Furnishing and home accounts for US$6.2bn in 2014 and has the fourth largest portion of retail spend at 5.2% of the total.

Key BMI Forecasts include:

- We predict an overall growth of GDP from US$192bn in 2014 to US$264bn in 2018.
- Total household spending in the retail sector will account for 60.16% of total GDP in 2014 and will decline slightly to 57.04% by 2018.
- Total household spending in retail will reach US$116bn in 2014 and grow to US$150bn in 2018.

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