Trade: Survey:Romanian consumers are looking for food discounts as products are becoming more expensive

The U.S. trade war with China could affect food prices around the world, even in Europe, and consumers, including Romanians, already accustomed to inflation, are changing their preferences when it comes to food, forcing the industry to change, according to eToro analyst Bogdan Maioreanu.According to him, Romanian buyers are the ones who are most looking to buy produce from local producers and farmers, followed by French, Spanish and Poles."A survey conducted by consulting giant McKinsey in Europe shows that customer preferences are changing this year when it comes to how customers shop. This year, almost half (48%) of European consumers surveyed said they are looking for ways to save money when shopping. The most attentive to the price are the Norwegians, followed by those from Great Britain and, in the same position, the Romanians, the Danes and the Spaniards. However, among all the countries surveyed, Romanians are in first place when it comes to actively searching for discounts, followed by Spaniards and Danes," according to the survey.Romanian consumers dominate the ranking also when it comes to buying high quality or premium products. They are closely followed by the Spaniards. Romanians are also close to the top places when it comes to buying organic products and are willing to pay higher prices for healthier products, but they are below the European average when it comes to buying the store's own brands instead of the well-known brands. Also, Romanian shoppers are well above the European average when it comes to buying food from the cooked food departments inside stores.Buyers' increased attention to prices is justified by the latest data on inflation in Romania, which show that in March food prices increased by 5.1% year-on-year. Topping the price increases were margarine, with almost 13%, fruits and canned fruits, with over 10%. Meat and meat products increased by almost 4% year-on-year.The trade war between the U.S. and China could push Chinese companies to find other ways to cover the demand that U.S. imports can no longer meet. In 2023, China imported nearly USD 1 billion worth of fruits and nuts from the U.S., more than USD 3.4 billion worth of meat, and meat products. Now they could look for other suppliers, and this will put pressure on prices, including in Europe.China was the third largest destination for EU agricultural exports in 2024 (6% of EU exports), after the UK and the US. However, EU exports to China saw the largest reduction, with a decrease of EUR 1.3 billion (9%) from 2023. The main exports that fell were cereals, pork, spirits and liqueurs and dairy products. But the current situation could lead to an increase in demand for agricultural produce in China to replace what cannot currently be bought from the U.S. This is why the reshaping of supply chains around the world could put pressure on some markets and cause prices to rise for several categories of food products, shows the survey.Investors are closely following the situation. According to the latest eToro Retail Investor Beat survey, when it comes to the main external risks they see for their portfolios, 26% of Romanian investors mentioned a global recession, 23% inflation, 18% the state of the Romanian economy and 16% a global conflict. And the current trade war initiated by the Trump administration has all the ingredients to tick off at least some of these concerns.EToro is a trading and investment platform that allows users to invest, share their knowledge, and learn. It was founded in 2007 with the mission of opening up global markets so that all interested parties can trade and invest in a simple and transparent way. Today, eToro is a global community with over 38 million registered users in 75 countries.On the eToro platform, users can own a wide range of traditional and innovative assets and choose how to invest: they can trade directly, invest in a portfolio or copy other investors.