Sales of the fashion retail market in Russia 2008-2013

This statistic illustrates the turnover of the Russian fashion retail market from 2008 to 2013. In 2013, the Russian fashion retail market's sales volume amounted to 1.86 trillion Russian Ruble.

Russian Fashion Retail Market

Russia has long been known as major resource exporter. Justifiably so, as the oil and natural gas sector accounts for a lion’s share of the country’s exports and makes up the majority of its gross domestic product. Yet Russia has never been thought of as a nation of spenders, especially given its past crusades against capitalism. Russia, with an estimated population of over 143 million in 2015, is the largest consumer market in Central and Eastern Europe.

After a boom phase from 2004 until 2007 and a deep crisis phase from 2008 until 2010, the Russian clothing market has recovered comparatively fast in the past three years. However, consumer demand began staggering in 2013 and 2014 is expected to bear the risk of stagflation – stagnating demand in combination with rising prices. The rising cost of salaries and wages, higher rent prices, friction from job rotation of trained employees among competitors as well as the unavailability of a skilled labor force have a significant impact on the competitiveness of clothing retailers in Russia.

It's important to note, supermarkets do not sell clothing, and there aren't any mid-market clothing chains in Russia, except for those selling clothing for young children. In Western Europe, these mid-market chains are high volume, competitively priced channels. Most high street shops are independent clothing shops, selling relatively fashionable clothing and branded wear. Brands with a good point of sale can do well in this part of the market. Brands from around the world have shops at new shopping centers. As they are very successful, this channel is growing and more are being built.

Sales of the Russian fashion retail market from 2008 to 2013

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Source

Release date

November 2014

Region

Russia

Survey time period

2008 to 2013

Supplementary notes

RUB = Russian Ruble.
* Forecast.

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Statistics on "Russia"

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