Romanians have spent €36 billion in large retail chains during 2023, an amount 11% higher compared with 2022, according to a Cushman & Wakefield report. Of the total amount, FMCG had a share of more than 60%.
On an yearly basis, the biggest gains in sales were recorded by the Cosmetics (33.5%), Specialized Stores - pet shops, newsstands, tobacco, specialised drug stores etc (20.4%), Kids & Toys (17.5%) and Food & Beverage (14.5%) retailers.
The lowest turnover growth rates were reported by the DIY (3%), Home & Deco (4.8%), Jewelry (6%), Electro – IT (8.3%) and Sports (8.6%) segments.
“The forecast for this year is also positive, considering the official public data which illustrates a consistent retail sales growth compared with the same period in 2023," says Vlad Săftoiu, Head of Research at Cushman & Wakefield Echinox.
The turnover increases reported by the large retailers was sustained both through expansions and organically. These expansions have also come as a result of the investments made by developers (in shopping centres and retail parks) who completed more than 50 projects between 2019 and 2023.
This comprises both new schemes and expansions of existing ones, totaling more than 715,000 sqm of new modern retail spaces.
