Page 27 - UKRRptSept23

4.5.2 Nominal wages dynamics
4.5.3 Retail sector dynamics
Ukrainian retail chains saw a turnover of UAH1.16 trillion ($31.46bn) in the first year of Russia’s full-scale invasion, a UAH300bn ($8.14bn) decrease on the previous year, Ukraine Business News reported on August 9.
Companies have had to deal with severe challenges resulting from the war, including loss of facilities to occupation and shelling, blackouts, looting and the migration of customers abroad, which all contributed to the dire result. Moreover, due to last year’s high inflation level of 26.6%, the actual loss is even greater.
The leading retail chain was the ATB Corporation, Ukraine’s top grocery chain, recording a total turnover amounting to UAH150bn. This was followed by Silpo with UAH70bn, Fora and Metro Cash & Carry, all grocery chains. The first non-grocery related company was Rozetka Marketplace at number five.
Retail establishments managed to bounce back this year, with nearly all companies resuming operations in the first half of 2023. Overall, Ukrainian business expectations are far more optimistic than they were last year.
27 UKRAINE Country Report September 2023 www.intellinews.com