Boston, MA -- (ReleaseWire) -- 09/15/2012 -- Factors such as elevated unemployment - which is expected to hit 14% by the end of the year - and slowing average wage growth will continue to diminish opportunities for discretionary spending. In the meantime, food and non-alcoholic beverages inflation continues to climb, making for a challenging consumer spending environment. We thus continue to expect little improvement in this regard, especially given the need for fiscal prudency.
Headline Industry Data (local currency)
- 2012 per capita food consumption = +1.89%; forecast compound annual growth rate (CAGR) to 2016 = +3.47%
- 2012 alcoholic drinks sales = +3.38%; forecast CAGR to 2016 = +3.65%
- 2012 soft drinks sales = +3.71%; forecast CAGR to 2016 = +3.25%
- 2012 mass grocery retail = +4.17%; forecast CAGR to 2016 = +5.42%
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Key Company Trends
European Majors Target Slovakian Companies: In February 2012, Orkla Food Ingredients (OFI), part of the Norwegian Orkla conglomerate and the leading Scandinavian supplier of bakery ingredients, purchased a 66% stake in Slovakian Ekvia. The Slovakian company is the domestic leader in the sales and distribution of bakery ingredients, supplying business from one of its five warehouses across Slovakia. OFI's unit KaKa Group will assimilate Ekvia.
Fast-Food Chains Expand In Slovakia: McDonald's Slovakia, which posted EUR53.2mn in 2011 revenues, is planning on opening two new restaurants during 2012, while also redesigning its existing outlets. US chain Subway is also to open a total of four new outlets in the course of 2012. Subway will primarily target the capital, which is to witness two more outlet openings during the year. Similarly, in April 2012, Slovak fast-food chain Pizza Mizza was reported to be planning to sell its products in retail chains across Slovakia, starting a pilot project with supermarket operator Billa.
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