European food retail grows thanks to discounters and convenience stores

08 Nov 2017 11:54 AM | Anonymous

Major markets like Russia and Romania are the engine that drive the European FMCG branch’s growth. Discounters and convenience stores continue to expand their reach, according to the international research organization IGD.

Local retailers expand

Over the next five years, food sales will grow three times as fast in Central and Eastern Europe as compared to Western Europe. The European food retail industry will grow 3.8 % annually in that same time frame, but the annual growth for Central and Eastern Europe will be 6.5 % compared to 2.4 % for Western Europe.

"Many local retailers, including X5 Retail Group, Lenta and the discounters, have planned major expansion plans for markets like Russia and Romania, where there have only been limited market consolidation efforts. This will speed up the region’s growth”, IGD’s Milos Ryba said.

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