Clothing & Footwear Retailing in Russia, Market Shares, Summary & Forecasts to 2021
WiseGuyReports.com with their unique quality of simplifying the market research study, presents a deep diving study report “Clothing & Footwear Retailing in Russia, Market Shares, Summary & Forecasts to 2021”
Clothing & Footwear Retailing in Russia
Overview
The clothing & footwear sector is the second largest in the Russian retail industry and contributed 13.2% to total retail sales in 2016. Sector sales are projected to grow at a CAGR of 4.7% during 2016-2021 to reach RUB4,069.6 billion by 2021. Low income and high inflation changed the buying behavior of Russians as they began saving on purchases and refrained from impulse shopping.
Demand for value clothing and discounts increased significantly, leading the mid-price segment to shrink and causing loss of sales, especially to international brands. The changing dynamics forced mid-priced brands to close their stores; however, larger brands, in the mass segment, began offering value deals and expanding their store network in Russia.
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Top Companies mentioned
Sportmaster
Zara
Adidas
CentrObuv
H&M
Gloria Jeans
Kari
Wildberries
Clothing & Footwear Retailing in Russia Industry Major Outlook
"Clothing & Footwear Retailing in Russia, Market Shares, Summary & Forecasts to 2021", provides data for historic and forecast retail sales, and also includes information on the business environment and country risk related to Chile retail environment. In addition, it analyzes the key consumer trends influencing Chile clothing and footwear industry.
Clothing & Footwear Retailing in Russia - Competitive Analysis
Key players are making innovative developments in Clothing & Footwear Retailing in Russia industry. The same will help in improving the market performance. Heavy investments are made by major players in the R&D sector
Scope
Online retail is emerging as the fastest-growing channel in Russian retail
- Clothing & footwear sector sales declined due to weak purchasing power of Russians
- Specialist stores and department stores losing share as online grows
- Mass market brands are driving sales in the sector with low price strategy
- Clothing & footwear sector is dominated by international retailers
- Specialists and department stores losing biggest share as online gains
.Continued
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Posted by
Vivian Dsena
on Tuesday March 27 2018, 3:32 AM EST.
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