Development of regional markets of consumer goods: state and assessment of factors

Abstract

Introduction. The COVID-19 pandemic has led to significant changes in regional consumer markets, both globally and in Ukraine. In 2021, there was a gradual adaptation to new conditions and the resumption of economic activity. The situation was changed by the aggressive war against Ukraine launched by the Russian Federation at the end of February 2022, as the crisis intensified significantly. In this context, it is important that the experience of overcoming the economic consequences of the introduction of quarantine measures in 2020-21 may become part of a new state policy for Ukraine to regulate consumer markets in a state of war. The purpose of the article is to identify the main trends in the functioning of regional markets for consumer goods in Ukraine. Results. Analysis of the state of regional consumer markets by development factors (effective demand, prices and opportunities for production of goods and services) showed that the markets at the beginning of the war on February 24, 2022 were just beginning to recover from stress caused by quarantine measures against the COVID-19 pandemic. It is also substantiated that the war led to the destruction of logistics networks, which affected the availability of goods in various regional consumer markets, the price of consumer goods and services and the deepening of uneven distribution of supply and demand. The gradual adaptation of producers and distributors to the new security and economic situation was noted, and the existing threat of the decline in the quality of consumer goods and services and the violation of consumer rights in the future if hostilities are not stopped in the near future was emphasized. Conclusions. It is not possible to forecast the situation with regard to regional consumer markets in the long run, but the state will take measures to mitigate the situation, for example by introducing regulation of prices for vital goods and assistance to enterprises producing them, as was done during quarantine measures to overcome the COVID-19 pandemic, especially in regions or areas with the most difficult security situations, may improve the situation in regional consumer markets. Keywords: regional consumer markets, food security, the impact of war on the economy.