Ghenea: Consumption is undergoing a deep crisis

Online sales of FIT Distribution company, controlling PCfun.ro, PCGarage.ro, ShopIT.ro and Electrofun.ro online stores, fell in the period of Easter holidays, with consumers switching to foodstuffs and consumer goods from durable goods, Marius Ghenea, the company’s chairman and sole shareholder, told ZF. “The period ahead of Easter was characterised by falling sales, a situation justified by Romanians’ smaller budgets for this period, which were primarily directed to purchases of foodstuffs and consumer goods, so that less durable goods were bought during this period,” Ghenea said. He added this was a typical phenomenon for a crisis period, with the lack of massive sales during the holiday period indicating “the deep crisis” Romanian consumption is undergoing. “The only way to boost this consumption is linked to a lending thaw-up. (…)”,Ghenea said. He expects sales to shrink during this period and then pick up after the holiday period. The group’s online sales in the first three months of this year advanced by around 20% from a year ago.