Russia's Retail Downturn: Battling the economic crisis, 2009

Summary:

The global economic slowdown reached Russia in autumn 2008, with a period of rapid economic growth coming to an abrupt end. As a result of Russia's strong dependency on commodity exports GDP in 2009 is expected to contract by 6% and the consequent surge in unemployment will hurt consumer confidence. Average incomes may drop by 4.5% this year in an environment of double digit inflation and retail sales will suffer accordingly, probably due to contract by 3% before recovering to nothing more than inflation level in 2010.

Food retailers will be hurt less severely than non-food retailers, but the fact that sales of packaged foods have stopped growing and the increasing numbers of shoppers as value-for-money chains prove that even in food retail, things are beginning to move.

This highly detailed report focuses on the Russian retail market in its current state and its need for global recovery. Providing deep insight into how retailers, suppliers and consumers are being affected by the downturn. A must read for any retailer or supplier affected by the Russian retail market.

Who should buy this report?

Retailers and suppliers affected by the Russian retail market.

Use this report to:

• Understand the impact of the Russian recession on retailers, consumers, manufactures and suppliers.
• Gain insight into why consumer behaviour is drastically changing in the current climate.
• Evaluate the Russian market and its need for global recovery in order to continue growing.

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