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Romania’s Long-Term Goods Mkt Dn 42.6% On Year, To EUR1.42B – Survey

Romania’s long-term use goods market shrunk by 42.6% last year to EUR1.42 billion, compared to 2008, when it grew by 11.5%, with IT products and office equipment posting the worst results, according to the data of market researching company GfK Romania.
Romania’s Long-Term Goods Mkt Dn 42.6% On Year, To EUR1.42B - Survey
15 feb. 2010, 13:33, English

The long-term use goods market was worth EUR422 million in the fourth quarter of last year. Sales during the winter season did little to improve the situation, with a 43.2% decline compared to the same period last year. Overall, sales in 2009 were 42.6% lower than in 2008, according to a GfK press release.

In 2008 the sales of such products amounted to EUR2.47 billion.

The small domestic appliance segment shrunk the least, 23.6% down to EUR71 million, mainly on account of fourth quarter sales.

Although the telecom market fell 30.1%, sales during the winter holidays amounted to EUR73 million, 20% more than in the July-September interval, owing to newly launched products such as touch-screen smartphones.

In 2009 Romanians bought EUR334 million worth of large household appliances, a 37% drop since to 2008. The holiday season „saved” the segment – the EUR93 million sales meant a 66% increase compared to the third quarter. The most popular products were TV-audio equipment (30% lower in December 2009 than in December 2008) and games, which sold almost double compared to November. Plasma and LCD television sets took the biggest hit, despite being encouraged all year by retailers and producers offering special promotions.

The camera market shrunk 45% in 2009, owing mainly to poor performance by the compact segment. Digital frames and D-SLR cameras sold well throughout the year, but did not manage to balance the strongly negative trend.

Romania’s IT sector saw a 40% fall in the final quarter of 2009 compared to the previous four months, and slumped 53.5% compared to the same interval of 2008. Despite slight support by the holidays, consumers’ low purchasing power meant low overall sales, a 51.6% decline on the year.

Office equipment was also severely impacted by the economic crisis, with 53.8% less earnings compared to 2008.

GfK Temax Romania is an indicator created by GfK Retail and Technology to monitor the long-term use product market. The GfK Temax report is published internationally and draws from surveys conducted by GfK Retail and Technology’s retail panel, which includes sales data from over 190,000 stores all over the world.

GfK is one of the largest market research companies in the world, with over 10,000 employees and collaborators and operating in 100 countries. The Romanian branch was opened in 1992.