Unlock the power of RMS data for Eastern Europe
In 2022, Eastern Europe was still struggling to adjust to “new normal” pandemic conditions when geopolitical instability hit the region. Supply disruptions and heightened inflationary pressure decelerated economic activity and weakened consumption. That skyrocketing inflation rate negatively affected consumer confidence leading to a nearly 0.9% decrease in the total FMCG sales volume.
However, the Eastern European FMCG market continued to grow in value sales, increasing nearly 15.2% in the FY2022, driven mostly by price increases. The negative volume sales trend spread to the majority of countries in the region with the exceptions of Bulgaria, Serbia, Romania, and Poland, where volume sales rates remain flat. The highest FMCG growth in the region came from Private Label products and smaller manufacturers.
As Eastern Europe’s economic situation grows even more complex and personal finances worsen, consumers are seriously considering which savings strategies to choose. Though we also expect a spending shift in favor of healthier, more sustainable products and categories.
To stay ahead in today’s competitive market, companies must leverage data and insights to gain a deeper understanding of their customers. By analyzing consumer behavior, optimizing supply chains, and implementing targeted marketing and pricing strategies, businesses can adapt to changing market conditions and stay competitive in the long run. With the ability to pivot quickly and effectively based on data-driven insights, companies can drive sustainable growth and maintain a competitive advantage in their industry.
The Eastern Europe edition of NIQ’s FMCG Pulse report provides the full view of the FMCG landscape including category and retail channel trends and regional data and insights to help you strategize your growth path in 2023.
Unlock the power of RMS data
When it comes to pivotal business decisions, NIQ has you covered. Our RMS (Retail Measurement Services) solutions provide businesses with the tools they need to maximize their performance, improve operational efficiency, and make informed decisions. Contact us today to learn more about how we can help you achieve your business goals.