Comparative analysis of the food market in Slovakia : case study
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Slovakian consumers continue to exhibit caution when it comes to spending decisions, a result of the ongoing economic situation in the country. For most shoppers, price is the determining factor when considering the purchase of products and services, although most seem to manage to find ways to indulge themselves, at least occasionally. The retail landscape continues to be affected by the growing number of consumers turning to online shopping. For the past few years, we monitor negative economic phenomenon, namely growth in consumer s food prices in the world and also in Slovakia. When compari...
Slovakian consumers continue to exhibit caution when it comes to spending decisions, a result of the ongoing economic situation in the country. For most shoppers, price is the determining factor when considering the purchase of products and services, although most seem to manage to find ways to indulge themselves, at least occasionally. The retail landscape continues to be affected by the growing number of consumers turning to online shopping. For the past few years, we monitor negative economic phenomenon, namely growth in consumer s food prices in the world and also in Slovakia. When comparing prices in 1997 and 2013, we find that food prices have, on average, increased by more than 46%. Many analysts predict that the price increase will continue in the next period, fortunately at a slower pace than up to now. The monograph therefore focuses on forecasting future development in consumer s food prices. Given that the present development of prices was very unstable and fluctuatedseasonally, so Box - Jenkins models that can quickly adapt to change and bring quality predictions in any situation are most suitable to use for the analysis and modeling of such time series.
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