After three years of 5% to 7% growth, the pace will drop to 2.2% in 2020 and then to almost half of that, ZF has found from market research company Euromonitor data.
The data therefore confirm the information provided by managers and experts in the market, who say they expect consumer spending appetite to go down starting this year.
They mean consumer spending in general, but such a trend will affect all segments, including grocery retail. However, it could be less hurt because FMCG products are considered a necessity, not an investment like furniture or home appliances or pampering like apparel and perfumes.
(English version by Loredana Fratila-Cristescu)