THOUGHTS

A Window of Opportunity to Win Customers in Central Europe’s Retail Sector

Oct 8, 2019

Central Europe’s retail sector: An overview

Central Europe is a highly value-oriented market where consumers strive to find new ways to stretch their budget without having to compromise on quality. Consumers in this market are constantly on the lookout for the best deals that both online and offline channels in the retail sector have to offer. In fact, in most Central European countries, promotions are becoming relatively commonplace. However, for companies in the region’s retail sector, winning consumers does not only mean merely offering mediocre-quality products at entry-level prices.

Retail sector

The most successful retail sector companies in Central Europe are those that are successful in finding ways to provide added value while keeping prices low. This can be achieved by improving product quality, offering a larger assortment, or providing a seamless and satisfying customer experience. Although the region is going through a phase of financial insecurity due to recent recession, this does not mean that only inexpensive products attract Central Europeans. As consumers in Central Europe are increasingly becoming omnichannel shoppers, they are educating themselves more on price and on product features. Companies in the CPG and retail sector must, therefore, ensure a consistent, value-oriented presence across channels establish a brand value for themselves in the future of retail in Central Europe. In addition, they must also act on some key priorities.

Consumers in Central Europe are in search of the best value-for-money deals. Is your business prepared to meet the changing demands of consumers in this market? Request a free proposal to learn how our advanced market intelligence solutions can help your organization effectively tap market opportunities and stay ahead of the curve.

retail sector

Invest in ‘value for money’ brands

CPG and retail sector companies are rapidly offering the higher quality or even premium products at mainstream price points. Private labels have become one of the most popular retail industry trends with several retail sector companies launching premium quality private label products and heavily investing in their advertisements. Advertisements can be used as a source to communicate emotional cues to consumers in order to make private labels an everyday household name while promoting the idea of value for money.

Expanding assortments

Companies in Central Europe’s retail industry are providing broader assortments in products to appeal better to consumers. Grocers, for instance, are providing variants including vegetarian, organic, and vegan products. Following this trend will be especially useful for fresh food and prepared meals categories. Retail sector companies can also experiment with introducing newer store formats by expanding their offerings in fresh produce, ready-to-eat meals, and grab-and-go snacks.

Wonder how you can achieve consistency and successfully adopt a value-oriented approach to win over consumer trust and loyalty?

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