Boston, MA -- (ReleaseWire) -- 06/25/2014 -- In comparison to the previous four years of the review period, growth of current value sales in 2013 was significant, with 1% positive growth compared to negative growth since 2009. However, this growth does not come out of rebounding disposable household incomes; volume sales were approximately the same or weaker. The growth comes from price hikes for basic food products like bread. The inflation rate in Croatia frantically oscillated between 1% and 5%, depending on the month.
Agrokor dd was already the dominant leader in grocery retailers, with 30% share in current value sales in 2012, due to its Konzum and Tisak brands. By expected adding of Mercator and Getro to its portfolio, the lead would extend to 33% in 2013.
Despite all the activity concerning consolidation, grocery retailers is not expected to record growth in sales over the forecast period; in fact average value sales are predicted to marginally decline in constant 2013 prices. The reason for this is an overall pressure on prices to decrease, either via trading down to private label, or via cheaper imports from EU countries.
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