Romanians Show Unmotivated Optimist Towards Econ Crisis – GEA

„After nine years of economic growth, no consumer knows how to react in crisis, because he has no comparison. Thus, it is very difficult to predict the consumer’s reaction,” Voinea said Tuesday during the „Romania 2009 Retail Forum”, organized by MEDIAFAX.

The first half of 2010 will be more difficult, he said, as Romanians will no longer have their 2008 reserves to survive the crisis.

„2008 was a very good year, while 2009 had a stagnation effect. It was either a denial of the crisis, or a compensation of the 2008 results that will no longer exist in the future. Romanians will prefer cheaper products, because reserves left from 2008 have been depleted,” Voinea added.

According to him, the market will not see a sudden revival. The unemployment rate will rise in the future, leading to lower consumption.

Alexandru Vlad, CEO of retailer Selgros Romania, estimated that 2010 would be a very difficult year for the local retail companies, mainly in the food sector.