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Households: Czech Republic

November 2019

Czech households are enjoying favourable economic dynamics, with record-low unemployment, rising incomes, and a booming real estate market. As a result of these factors, demand for electronics and appliances is rising, while the state is making major investments into urban infrastructure. However, population ageing, the low number of childbirths, and increasingly unaffordable prices for housing are challenges.

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Overview:

The Country Briefings series examine market potential, economic and consumer trends impacting each country and how they are set to change.

Each Country Briefing covers one of these topics:

Economy, Finance and Trade: Understanding the structure, health and potential risks of an economy are important for decision-making within an existing operating environment as well as for expansion strategies. Real GDP growth, inflation and exchange rate fluctuations will directly impact consumer market potential. Import and export trade profiles help gauge how open an economy is to trade and investment, while analysis of government finances can be used to explore macroeconomic stability and susceptibility to economic shocks.

Income and Expenditure: Insights into income, wealth and expenditure of consumers are vital in helping businesses make strategic decisions with regards to which country (or even which region within a country) to enter, which consumer segment to target, which products or services to market, and at which price point. Other factors such as the size and expansion of the middle class and income inequality are also important in helping companies gauge the potential of a country market.

Households: Global shifts in gender, ageing, migration and housing are transforming the size, location,  general make-up as well as income and expenditure of households around the globe, with diverse implications for governments and companies. Households insights can help identify the decision-making processes and consumption tastes of different household groups and types within a country, and assess household appliance and digital readiness that is key for formulating market technology and internet strategies.

Business Dynamics: A stable and competitive business environment is vital to operate efficiently and attract inward investment. Businesses can assess these factors alongside challenges such as corruption, political instability and terrorism, also gain insight into business operating environment and make strategic investment decisions. Transport infrastructure, ICT readiness and labour force dynamics will also identify potential issues with a supply chain and the level of workforce skills.

Sustainability: Insights on key sectors directly related to the environmental sustainability of a country such as energy, water, pollution, environmental resilience, forest and biodiversity and food and agriculture help businesses to make strategic decisions in relation to environmental and sustainability trends, improve brand reputation and ensure long-term operations while ultimately growing the bottom line.

The briefings cover 103 countries and identify topics of crucial interest to planners, marketers and researchers.

HEADLINES

PROSPECTS

Chart 1 SWOT Analysis: the Czech Republic

HOUSEHOLD SIZE AND LOCATION

Urban infrastructure investments
Chart 2 Households by Location and Number of Rooms/Persons in the Czech Republic

CONSUMER COMPOSITION

Verging on full employment
Chart 3 Sex, Age, Education and Employment in the Czech Republic Chart 4 Case Study on Consumer Composition: the Czech Republic

FAMILY TYPES

Immigration drives growth in households
Chart 5 Family Units and Children per Household in the Czech Republic

HOUSEHOLD FACILITIES AND DURABLES

More interest in connected appliances
Chart 6 Household Penetration by Facilities and Durables in 2030 in the Czech Republic

HOUSEHOLD TELECOMS

Booming m-commerce
Chart 7 Household Digitalisation in the Czech Republic Chart 8 Case Study on Household Telecoms: the Czech Republic

PROPERTY MARKET

One of the most dynamic property markets in the region
Chart 9 Rentals and Household Finance in the Czech Republic

HOUSING CONSTRUCTION

Wooden houses in demand
Chart 10 Houses and Apartments in the Czech Republic
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