PwC report: Three quarters of Romanian consumers expect to spend more on food, clothing, DIY and travel

• Romanian consumers prioritize financial aspects when making purchasing decisions, then health and climate issues. 

• Three-quarters of them expect to spend more on food, clothing, DIY and travel in the next six months. 

• Lower prices and promotions are the main reasons for switching brands.

• Social media is the most effective channel to reach consumers. 

• Half of consumers intend to buy more sustainable products. 

• Physical stores remain the top preference, but online purchases have grown significantly. 

Bucharest, 1 July 2024 - Three-quarters of Romanians expect to spend more on food, clothing, DIY and travel in the next six months, according to the PwC Voice of Consumer 2024 survey for Romania. This expectation is caused by high inflation, 74% of Romanian consumers considering it as the biggest threat in the next 12 months.

"In the context of inflation, price remains the most important factor in Romanian consumers' purchasing decisions, followed by the impact on their health and the sustainability of the product. In addition, Romanians are becoming more open to the use of technology compared to their CEE and global counterparts, and they are paying more attention to data protection. By addressing these issues - accessibility, personalisation, sustainability and technology - retailers can increase customer loyalty, which is crucial in a highly competitive market," said Ruxandra Târlescu, Partner and Retail & Consumer Markets. 

Better value for money and promotional offers are the most appreciated features by Romanian consumers, as well as the global consumers, when choosing a product. For example, 46% and 39% of consumers respectively say that discounts, followed by promotions, are the main reasons for switching brands. However, despite the pressure on prices, around 5 in 10 consumers say they intend to buy more sustainable products.

The buying decision is influenced especially by social media ads, according to over 7 in 10 Romanian consumers, similarly to their global counterparts. Most popular social media application in Romania is Facebook, while the younger audience prefers Instagram and TikTok. 

Regarding sales channels, physical stores remain popular, but online ones are gaining ground. On a monthly basis, 36% of Romanian consumers shop in physical stores, but similar percentages, 29% and 31% respectively, shop online via PC or smartphone. The online store is particularly popular for purchasing technology, furniture and luxury/design products.

Contactless payment is preferred by 44% of Romanian consumers, in CEE and globally. However, only 28% of Romanian consumers choose self-checkout technology, compared to 34% in CEE and 38% globally. Around a quarter of Romanian and global consumers would choose a fully automated in-store experience. 

PwC surveyed 20,662 consumers from 31 countries and territories, including Romania, for the Voice of Consumer 2024 report.

The key findings of the survey for Romania can be accessed here. 

Despre PwC

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 151 countries with over 360,000 people who are committed to delivering quality assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.