The most influential Megatrends set to shape the world through 2030, identified by Euromonitor International, help businesses better anticipate market developments and lead change for their industries.
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Learn moreMar 2018
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Geopolitical and macroeconomic factors remain key for the future of grocery retailing in Eastern Europe. The region is characterised by a mix of growing and struggling economies, and polarisation in terms of consumer preferences and market fragmentation. The market remains largely concentrated within Russia and Poland, countries which dictate brand movements amidst a fragmented competitive landscape. Modern grocery is outpacing traditional formats across the region.
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Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.
Russia and Poland are the largest grocery retailing markets in Eastern Europe, accounting for almost two thirds of total sales in 2017. Consequently, these key markets to a large extent dictate the trends that shape grocery retailing in the region. Over 2017-2022, these markets are forecast to be the largest contributors to absolute growth in grocery retailing, and will thus continue to maintain their dominance in the region.
Modern grocery retailing is a dominant and fast growing category within grocery retailers in Eastern Europe. Growth across key markets such as Russia, Poland, Romania and Czech Republic has powered this growth. As consumers continue to value convenience, discounts and wide product offerings, the modern format is set to continue growing at the expense of traditional outlets over 2017-2022.
Eastern Europe is characterised by a highly fragmented grocery retailing market that is slowly moving towards consolidation, following mergers and acquisitions and aggressive expansion by leading retailers such as X5 Retail and Magnit. This is evident in the fact that the share of the top five retailers grew from 14% to 23% over 2012-2017. The top 10 list of companies comprises a large number of retailers from Eastern Europe which rely entirely on their home markets for their revenue.
Geopolitical tensions and economic crisis were the key factors that slowed the growth of grocery retailing over 2012-2017. However, over 2017-2022, the macroeconomic landscape of Eastern Europe is expected to stabilise and support growth in the region. This growth will be further supported by markets such as Slovakia, Hungary and Poland, where positive economic forecasts and VAT cuts are expected to spur consumer spending over 2017-2022.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.