The fast-moving consumer goods (FMCG) sector was one of the most dynamic in the Romanian economy in the past few years, with a 15-20 percent annual growth rate.
However, 2008 gave way to the first declines for the largest retail market players, according to officials of UTI Retail Solutions, part of the UTI group, controlled by businessman Tiberiu Urdareanu. Sales by retailers fell 7 percent year-on-year in 2008.
Romanian retail companies estimate sales will slide 17 percent in 2009, which will determine them to focus on reducing losses, said Simona Dinca, General Manager of UTI Retail Solutions. Considering the new economic conditions, companies will have to take measures to increase the number of clients, and launch new products and loyalty programs.
“In 2009, retail companies will seek to set clear goals and measures to maintain their profitability levels,” Dinca said, adding that “there is clearly a downward trend in sales of household appliances. After a 2008 which maintained the general upward retail sale trend, the first months of 2009 are showing a deterioration of major company indicators.”
