Page 35 - RusRPTJan22

4.5.3 Retail sector dynamics
The retail trade turnover in Russia moved up by 7.9% year-on-year in January-October 2021 to 31.66 trillion rubles ($426.1bn) in comparable prices, the Russian Federal State Statistics Service (Rosstat) said on Wednesday. The retail trade turnover in October 2021 gained 4.1% annually to 3.46 trillion rubles ($46.6bn). In October 2021, 95.4% of retail trade turnover were formed by trading companies and individual entrepreneurs. The share of retail markets and fairs was 4.6% (in October 2020 - 95.1% and 4.9% respectively).
Retail turnover in Russia in 2021 may return to pre-crisis level. Despite the ongoing pandemic, a full recovery of the retail market to pre-crisis levels may occur by the end of the year. Both food and non-food sales are growing. Experts and business partly explain this by the rise in prices. But they also talk about the growth of optimism among consumers - the share of Russians who save money is gradually decreasing.
At the end of 2021, retail trade turnover in Russia will grow by 8% year-on-year, to about $510bn (RUB37.65), which corresponds to the level of 2019. This forecast is cited by "Kommersant" with reference to a study by Deloitte. In 2020, according to analysts, turnover decreased by 6%, to $479bn (RUB35.36 trillion).
35 RUSSIA Country Report January 2022 www.intellinews.com