russian retail sector News

The report “Retail in Russia 2011 – Regional focus” analyses retail market conditions in Russia as a whole as well as from the perspective of individual Federal Districts.

Retail industry in Russia has been growing at an exponential pace and the market will likely reach US$744.92 Billion by 2011.

Growing affluent class in Russia is filliping retail sales in the country. Russian food retail sales spurred by over 25% last year and other retail segments are also poised to grow in future.

Russian retail market is growing steadily and strongly and will continue to do so in the years to come as well. The retail market in Russia is expected to hit US$ 744.92 Billion mark by the year 2011.

The initial two months of this year have seen a 12.7% year-on-year increase in Russian household real disposable income, at the same time there was a 17.5% increase seen in real average monthly wages.

Russian retail industry is booming, and in this boom the dynamic retail market of St. Petersburg is sure to play a key role, as the city is characterized by rising trend in per capita income plus inadequate space for quality shopping.