Russia Retail Sector Impacted By Slowing Economy and Inflation 2014

Country:
Russia

Report Highlights: Retail sales turnover in 2013 grew 3.9 percent year-on-year (valued at $744 billion) compared to growth of 6.3 percent in 2012. The grocery retail market increased in value from $321 billion in 2012 to $350 billion in 2013 representing 2.5 percent growth year-on-year compared to 3.6 percent growth in the previous year. Food sales accounted for 47 percent of total retail sales in Russia in 2013 – virtually unchanged from 2012. In 2014, market analysts expect the grocery market to continue to decrease as rising inflation, possibly reaching 10 percent by year’s end, and the Ruble devaluation are affecting consumers’ purchasing power and overall retail sales respectively.

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