Page 36 - RusRPTJan22

In "Infoline-Analytics" they give an even more optimistic forecast: according to the company, in 2021 the retail trade turnover in Russia will grow by more than 15% and will exceed RUB39 trillion. Sales of non-food products will increase by 19.5%, food products - by almost 11%.
X5 Group (Pyaterochka, Perekrestok, Karusel) in the first nine months of the year increased its revenue by 10.1%, Magnit - by 14.5%. Grocery chains have become the main beneficiaries of the cuts in consumer spending on entertainment and travel due to the pandemic, explains a senior analyst at Gazprombank.
Sales of household goods, clothing and footwear, household appliances and electronics are growing in non-food retail, Infoline-Analytics noted. By the end of the year, the Guild of Russian Jewelers expects jewelry sales to grow by 16.6–20.8%, including due to higher prices and an increase in demand for premium jewelry.
According to Deloitte's forecast, retail trade turnover in Russia will continue to grow in the coming years and by 2024 will reach the level of 2010-2011 - about $600bn (RUB44.3 trillion).
Infoline-Analytics believes that the growth rate of retail turnover against the background of lower inflation and the effect of a high base this year will gradually slow down - to 8% in 2022 and 6.5-7% in 2023-2024.
36 RUSSIA Country Report January 2022 www.intellinews.com