Doing business in Romania
You recently had the opportunity to conduct an online webinar together with PAIH Romania. You talked about how to achieve success in the Romanian Food & Beverage Industry. What is the future for this sector in Romania?
Pretty good in my opinion! Estimated revenues in the F&B sector amount to approx €41.54 billion in 2023. The market is expected to grow by 5.06% annually (CAGR 2023-2027) Traditional Romanian cuisine has a great influence market, with a wide range of fresh products available for local consumption and export.
Andrei, what is the specificity of the Romanian (Distinctive features).
Well, Romania distinguishes itself as a distinctive market thanks to its advantageous location at the crossroads of Europe, Asia, and the Middle East, which gives access to the unified European market and developing markets in the surrounding areas. A thriving IT sector and other businesses are supported by its educated, multilingual workforce and affordable labor prices. Opportunities for enterprises in a variety of areas are created by Romania’s rich cultural legacy, vast natural resources, and ongoing infrastructure development. Due to these distinguishing qualities, Romania is a desirable location for businesses looking to expand, diversify, and get access to a vibrant and changing market.
I would like to know what are the most popular consumer trends in Romania.
Fuelled by the convenience of online purchasing, smartphone use, and broad internet access, online shopping is becoming more and more popular among consumers, who now buy anything from food and gadgets to clothing and household items. By enhancing their online presence, providing a streamlined purchasing experience, and spending money on effective delivery and customer care, retailers are responding to this trend.
Consumers in Romania are becoming more health-conscious and are looking for natural, organic, and wholesome food items as well as exercise and wellness services. The demand for nutritous meals, nutritional supplements, and functional beverages has increased as a result of this trend, and there has also been an increase in the number of specialized fitness facilities and wellness centers. In response, companies are providing more health-focused products and emphasizing the advantages of leading a healthy lifestyle.
From the standpoint of consumer trends, the development of cashless transactions in Romania, particularly digital and contactless ones, is fueled by elements like ease of use, security, and technological adoption. For Romanian consumers, these payment options are changing their buying habits and how transactions are completed.
MARKETING TRENDS IN ROMANIA:
Increased focus on sustainability: Brand communication emphasizes eco-friendly practices and certifications
Influencer marketing: Companies are partnering with influencers on social media to promote their products and reach a wider audience.
Personalization: Using customer data to create targeted marketing campaigns and offers that cater to individual preferences and needs.
Health and wellness: Promoting products as organic, low-calorie, or free from artificial ingredients to appeal to health-conscious consumers.
Digital marketing and e-commerce: Investing in online marketing strategies to drive traffic to their online stores and marketplaces.
Interactive marketing: Engaging consumers through interactive quizzes, polls, contests, and immersive experiences to boost engagement and brand interaction.
Could you please, tell us more about potential and predictions of experts in the e-commerce sector in Romania?
Romanian e-commerce has been expanding quickly due to rising smartphone use, higher internet penetration, and a change in customer behavior toward online shopping. This pattern is projected to continue, according to experts, who expected compound annual growth rate of 12.4% between 2021 and 2025. As cashless transactions become more popular in Romania, e-commerce platforms will broaden payment choices, improve logistics, and cooperate with regional couriers while implementing modern tracking technology and setting up distribution centers in convenient locations.
How are Polish brands perceived in Romania?
Romanians tend to view Polish brands as affordable and providing value for money. They are now on par with other European brands in terms of quality and reliability thanks to recent improvements. Customers in Romania have a positive view of them because of their expanding market share and familiarity brought on by geographic closeness and historical links. However, depending on a brand’s reputation, marketing initiatives, and consumer experiences, perceptions of specific brands can vary.
Why, in your opinion, is it worth investing in the brand’s export activities on the Romanian market? (opportunities, challenges).
Romania’s significant economic growth in recent years, skilled workforce with competitive labor costs, growing industry sectors and goverment suport for foreign investors present opportunities for businesses to capitalize on the expanding consumer base and growing purchasing power, as long as there is caution regarding bureaucracy and the unpredictable legal and regulatory environment.
Thank you Andrei.
Thank you Sylwia.