Slower economic growth, volatility in commodity markets, tight labour markets and high inflation are among the key risk factors that are impacting the business environment and consumer behaviour in the Central and Eastern Europe (CEE) region. Real GDP in the region is forecast to contract by 3% in 2022 and show moderate growth of 0.2% in 2023, as a result of the war in Ukraine and weaker global economic growth, which are hurting exports.
Technology has become interwoven with commerce, making it much more important for companies and brands to understand consumers' perceptions and digital habits. To better explore this topic, Euromonitor leverages the expertise of in-house analysts and key stakeholders across impacted industries to launch the annual Voice of the Consumer: Digital Survey.
While headlines have focused on quick commerce players and their VC-backed pocketbooks, large retailers such as Walmart should not be counted out.
With competition in the on-demand delivery space growing fiercer just as the short-term outlook for on-demand delivery is worsening, the stage is set for an intense round of consolidation in the industry that has already been trending towards greater consolidation over the last few years.
Born between 1995-2009, Generation Z is coming of age alongside significant changes in the post-pandemic economy, giving rise to the Gen Z beauty consumer's tendencies for price sensitivity, individualistic expression, active participation in user-generated content, and phygital spaces. Social media and social commerce are essential to succeed with Gen Z beauty consumers.