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Market Analysts Believe in Russia More than Statistic Authority
The turnover of Russia’s retail was 10.7 trillion rubles in 2007 and 8.7 trillion rubles in 2006, showed reports of the country’s statistics authority Rosstat. But the estimate of the analysts is different. The given indicators were 1.2 fold to 1.5 fold less than the actual sales, said Alexander Utochkin from Interactive Research Group (IRG).
According to Utochkin, all surveys of the markets conducted by dozens of different agencies give figures that are notably above the official statistics. If the analyst is correct in his conclusion, today’s Russia is the biggest, most booming and most attractive consumer market of Europe. Its retail has been surging for a few years, adding from 25 percent to 30 percent each year in terms of dollars.
At the same time, Russia is the most underestimated market both in terms of investments, marketing and promotion costs and the prices for trading space. “The companies in Russia spend half as much for promotion and five times less for marketing than in the West,” the survey concludes. The prices for trading space will continue to rise in Moscow. The market almost equals the London one, but there are half as much trading space of proper quality in Moscow.
Saying what figures are most adequate won’t be easy. On the one hand, Rosstat has vast data at its disposal and its methods are at least as scientific as the methods applied by some independent marketing companies. But the marketing firms answer for their surveys not only by a good name but also by revenues. Anyway, if the difference between the actual life and Rosstat statistics is so grand, the risks of investors choosing a product for retail are very high.
www.kommersant.com
All the Article in Russian as of Apr. 11, 2008
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