The Country of Trillion Sales
The retail turnover exceeded 1 trillion rubles first time in Russia’s history in November of 2007. The rates of its growth and of growth in consumer demand accelerated to 15.6 percent. What’s more, the buyers currently tend to go to stores instead of the markets. If the trend survives, Russia’s retail will be the biggest in Europe and the fourth in the world, yielding only to the Unite States, Japan and China by 2010.
The retail grew 27.1 percent on year to 1.013 trillion rubles in November, said Russia’s statistic authority, Rosstat. Inflation that became skyrocketing in the recent months was evidently one of the reasons of such accelerated growth, but the pace was good even if taken in real value – 15.6 percent to November.
One of distinctive features is the general dominance of stores over markets. The stores accounted for 84.8 percent of turnover, while the markets and fairs covered 15.2 percent. The ratio was 80.2 percent and 19.8 percent a year earlier.
But the foods-to-nonfoods ratio hasn’t changed significantly. The weighted average weight of food product was 44.8 percent in November of 2007 vs. 44.6 percent a year earlier. Overall, 2006 showed 45.3 percent, and some 45.2 percent was posted over the first eleven months of this year.
The analysts are looking forward to December figures. Fueled by annual bonuses and New Year boom, the turnover is forecasted to be much higher this year, In December of 2006, the sales were 31.8 percent above the monthly average and 20 percent above the November turnover.
www.kommersant.com
All the Article in Russian as of Dec. 25, 2007
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