In Estonia, where retail plays a significant role in the economy, rising prices have begun to have a strong impact on consumer behaviour, Rimi CEO Kristel Mets explained why retail could have had a negative impact on the economy in the second quarter. :format(webp)/nginx/o/2024/06/04/16123248t1hae11.jpg)
Grocery store. Photo illustrative. Photo: Margus Ansu
In Estonia, where retail plays a significant role in the economy, rising prices have begun to have a strong impact on consumer behaviour, Rimi CEO Kristel Mets explained why retail could have had a negative impact on the economy in the second quarter.
Translation: Karoliina Vertyaeva
Rising prices have led consumers to increasingly seek out discounts and promotions, while spending on luxury and non-essential items has declined, Mets said. Consumers are turning to more affordable brands and store-owned items.
