Moreover, a German pays more attention to the price than a Romania despite the purchasing power gap and is more interested in saving money while Romanian consumers would rather do their shopping and save less money. These are but some of the conclusions of the third edition of the ZF Retail conference.
“Price is a factor even more in Germany than in Romania. It has to do with the culture. We spend more on clothes and save less. In Germany people do the opposite,” says Catalin Pozdarie, CEO of sporting goods retailer Hervis.
Philippe Besadoux, CEO of Montecristo group (which includes the Kenvelo, Lee Cooper, Tom Tailor, Timeout and Only brands) in turn says Romanians spend more than their neighbors in the region.
“It’s a fact. We operate in the entire Central and Eastern Europe and can say that Romania really does have a higher spending appetite. If you go to Czech Republic, Poland, Slovenia and other Eastern European countries, it’s different.”
What Besadoux says he cannot understand is why Romanians spend more money on clothing even though they have lower salaries than in other countries in the region. Romania is a retail paradise.
There is also something that defies logic in Romania, he says, as consumers in smaller cities buy more expensive products than the consumers in Bucharest, where salaries are higher. The same goes for other markets, not just fashion.
“We are happy with the performance of the local business. We have highest growth rate in Romania of all the countries in the group. We can see Romanians like to shop, like to spend,” said Robert Hellwagner, CEO of the cash&carry chain Selgros.
(English version by Loredana Fratila-Cristescu)