Romania registers an average increase of over 20% in sales of non-food goods in December compared to the average of the previous 11 months of the year, a considerable pace, but lower than in countries such as the Czech Republic, Cyprus or Portugal, where advances exceed 35 - 40%, but, in terms of food, it is among the leaders in the Union in terms of additional purchases that people make in the last month of the year, shows an analysis by the consulting company Colliers.
"The traditional growth in sales during the 'gift month' has moderated in recent years, both in Romania and in the rest of the European Union. Eurostat data for the period 2015 - 2024, analyzed by Colliers, show that Romania records an average increase of over 20% in non-food sales in December compared to the average of the previous 11 months of the year - a considerable pace, but lower than in countries such as the Czech Republic, Cyprus or Portugal, where advances exceed 35 - 40%," the analysis shows.
The differences are not explained only by the economic context, but especially by consumption habits: in some markets, end-of-year shopping has a much stronger tradition, while in Romania seasonality manifests itself more discreetly.
On the other hand, when it comes to food, Romania is among the leaders in the Union in terms of additional purchases that people make in the last month of the year.
"In recent years, we see that the seasonality of December sales has generally decreased across the region, including Romania. High inflation has eroded real purchasing power, and this is reflected in the moderation of the end-of-year effect in terms of both turnover and volume of goods sold. Consumers remain active, but are more cautious, more price-conscious and more oriented towards promotions. Post-pandemic behavioral changes accentuate this trend, and the data for 2025 indicate, very likely, the most moderate 'December effect' in the last decade. On average, over the last 10 years, December brought an increase of 20% in the volume of goods purchased compared to the previous 11 months, a solid dynamic, even if it does not reach the peaks of the most seasonal markets. The local model shows a more uniform distribution of consumption throughout year, which offers retailers greater stability, but also a more nuanced December peak compared to hyper-seasonal markets," explains Silviu Pop, director of ECE & Romania Research at Colliers.
At the European level, the Colliers director points out that December sales do not follow a clear economic pattern. The differences between countries are not related to income or the size of the economy, but rather to traditions and consumption habits.
Ireland remains the country with the strongest "December effect" in the EU, with an average increase of over 70% in non-food sales compared to the rest of the year. The Czech Republic, Cyprus and Portugal also exceed 35-40%, and Denmark, Hungary, France, Italy and Greece are in the 30-35% range.
Romania is in the second part of the ranking, with a 20% advance - similar to Sweden or Belgium - while countries such as Germany, the Netherlands or Slovenia have lower increases, below 20%, according to Eurostat data analyzed by Colliers.
Regarding food, Eurostat data shows, however, another reality: Romania is very high in the ranking: 5th place in the European Union, with an average increase of almost 22% that December brought in the period 2015-2024 compared to the average sales of the previous 11 months. Ahead of Romania are Luxembourg, France, Portugal and Hungary.
Otherwise, Eurostat data show a clear contrast between the pre-pandemic period and recent years: in most European markets, the "December effect" has moderated after 2020. The decrease is visible not only in the total value of sales, but also in the volumes actually sold, a sign that people are buying less or more selectively. High inflation, the decrease in real purchasing power and the orientation towards planned purchases and promotions are fundamentally changing consumer behavior, the study reveals.
The situation in Romania reflects these trends and is additionally influenced by an economic context that begins to weaken in 2025. The first significant difficulties on the labor market, with job losses after more than a decade of growth, have generated a climate of caution: more and more Romanians are postponing non-essential purchases and reducing planned spending for the holiday period.
For example, the Eurostat indicator that measures the intentions of more consistent purchases, conducted by survey among Romanians, is at an absolute minimum if we ignore the initial period of the pandemic. Colliers experts draw attention to the fact that such indicators should not be interpreted in isolation or at first glance, but in a broader context. In any case, the signal is a negative one.
"Our estimates show that December 2025 could have the lowest 'December effect' in the last decade, amid economic pressures and increased consumer caution. Changes in shopping habits, accentuated in recent years, contribute to this evolution. We will analyze the official data in detail in the first part of 2026, when the National Institute of Statistics will publish the results for December, to see how much the dynamics of the shopping season have changed," concludes Silviu Pop, Director of ECE & Romania Research at Colliers.
Colliers is one of the global leaders in real estate advisory and investment management services and operates through three leading platforms - Real Estate Services, Technical Consulting and Investment Management.
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