Slovakia flag Slovakia: Buying and Selling

Advertising and marketing in Slovakia

Marketing opportunities

Consumer Profile
With a GDP per capita of USD 21,530 (IMF, 2021), the average Slovak consumer is less wealthy than their neighbours to the north and the west (Austria and Czech Republic), but significantly richer than all other neighbours (Poland, Ukraine, Hungary). The population growth rate has nearly stood still for the last few years while the population is ageing at the same time (young population aged 0-24 accounting for 25.19% of the total population - CIA World Factbook, 2020 est.).
There are not significant income differences between different parts of the country or social groups and the country has one of the lowest Gini indexes in the world (22.8 points in 2019 - Eurostat, latest data available).
Economic growth is improving Slovak living standards, which remain nonetheless below the European average. Slovak consumers have grown conscious of their health and the environment. They also prefer local products to foreign products.
Consumer Behaviour
Price remains an essential factor in the purchasing process of Slovak consumers. However, there is growing interest in buying high-quality products that is in line with the growth in personal income. Slovak consumers are becoming increasingly aware of the composition of the product (contents of artificial ingredients and colourants) and the origin of the product (local, EU, overseas), as healthy lifestyles and fair-trade patriotism are fashionable. Consumers that once welcomed large stores (upon entering the EU) now turn to smaller specialist stores. They also value grocery retailers that feature Slovak products, which had become under-represented with the increase in product diversity. Online shopping has become a significant medium of sales for retailers, with e-commerce seeing a 22% growth rate in 2020 (ecommerceDB) and representing 21% of enterprises' total turnover (EU average being 20%) (Eurostat, 2020).
Consumers Associations
Slovak Consumer Association (website only in Slovak)
Main Advertising Agencies
Jandl
Effective Advertising Agency
Mindshare Slovakia
Zaraguza

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Latest Update: September 2022

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