Duşan Wilms, one of the few Romanian executives running amultinational, with 5,800 employees and 1.3bn-euro turnover, saysthe revival of retail and of the economy rests with consumption,the engine of the pre-crisis period.
"Everything depends on the optimism or pessimism of consumers, ontheir wish to buy and consume. As this is a crisis period,uncertainty is mounting and people are more carefully managing,investing their money. This impacts retail, particularly non-foodretail. I believe the biggest decline was in non-food retail andespecially in 'high-value investment products'".
Wilms, 50, believes certain products are no longer bought becauseno more loans are being released, loans that were very easilygranted by banks before the crisis.
The head of Metro Cash & Carry Romania states that at themoment money is no longer kept under the form of cash, when thepopulation regains its confidence in purchasing power and whenthere's economic growth, we will be speaking of a consumptionrebound.
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