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Russian Retail Market Recovered After The Economic Slowdown

November 2014

In 2010, Russian retail market recovered after the economic slowdown observed in the previous year and increased by 12.6% to RUB 16.4tr ($ 541bn). However, the latest PMR report Retail in Russia 2011 Regional focus. Market analysis and development forecasts for 2011-2013 shows that particular regional retail markets still reveal differences in their development due to their unique nature and local characteristics. Some companies went bankrupt, the majority had to focus on efficiency rather than dynamic expansion, still, the most prominent of them kept their positions. After years of dynamic development, Russian retail market experienced a sharp drop in the growth rates, from 28% in 2008 to less than 5% in 2009. In 2010, the retail market in Russia began to reveal signs of recovery after the financial crisis and grew by nearly 13% y-o-y, reaching RUB 16.4tr ($ 541bn). According to the latest PMR report, each Federal District (Central, Volga, Southern, Siberian, Urals, Northwestern and Far East) enjoyed an increase in the retail sales, of at least 8% reported by the Urals. However, the growth in real terms (4.4%) reveals that last year retail sales were mainly driven by the increase in prices.

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Source: http://sacatoday.com/russian-retail-market-recovered-after-the-economic-slowdown/

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