According to the Estonian Institute of Economic Research, Estonia’s economic situation has improved somewhat, however, the gap between the confidence of the country’s richest and poorest consumers has never been wider.
“The Estonian economy is recovering slowly, but it is still in bad shape,” said Peeter Raudsepp, director of the Estonian Institute of Economic Research.
Consumer confidence in Estonia has been on the decline for a umber of years, so people are looking for cheaper options wherever they are available. According to the institute, Estonians’ confidence is significantly lower than that of consumers elsewhere in the European Union and neighboring countries.
As a result, more and more customers have begun to prefer shops such as Realiseerimiskeskus, which sells a range of products including surplus and end-of-line items, and therefore has options that are sometimes considerably cheaper than in other stores.
“You can see quite clearly that people are being much more deliberate in their purchases. They are thinking very far ahead and thinking a lot about cheaper goods. People perhaps want to buy perhaps larger packs and are not only looking at the fact that they can get a product at a cheaper price, but when it comes to households, for example, in the case of washing powders, the sale of larger packs has clearly increased,” said Tõnu Eermann, head of Realiseerimiskeskus.
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