Russian retail still going strong

Despite the threat of a global economic crisis, Russian retail is still going strong. Russian Deputy Minister for Industry and Energy Andrey Dementyev announced nothing but excellent figures today.

Sales figures up +7.8% as wages rise almost 4%

Russian retail sales went up 7.8% last month, compared to August 2010: the best result in recent history – still doing better than the already excellent +5.7% of July 2011 compared to July 2010. Moreover, unemployment dropped to 6.1% (the lowest figure in three years) and average wages rose 3.9% compared to one year ago.

 

The deputy minister attributes the sales figures rise to the latter, claiming that the average Russian now earns clearly more, so he can spend more as well. The future is looking bright too, he said, as the government expects a faster economic growth for the July-December period, after a disappointing first semester.

Despite the threat of a global economic crisis, Russian retail is still going strong. Russian Deputy Minister for Industry and Energy Andrey Dementyev announced nothing but excellent figures today.

Sales figures up +7.8% as wages rise almost 4%

Russian retail sales went up 7.8% last month, compared to August 2010: the best result in recent history – still doing better than the already excellent +5.7% of July 2011 compared to July 2010. Moreover, unemployment dropped to 6.1% (the lowest figure in three years) and average wages rose 3.9% compared to one year ago.

 

The deputy minister attributes the sales figures rise to the latter, claiming that the average Russian now earns clearly more, so he can spend more as well. The future is looking bright too, he said, as the government expects a faster economic growth for the July-December period, after a disappointing first semester.

Questions or comments? Please feel free to contact the editors


Action opens 1,000th store

20/10/2017

Tomorrow is a special day for Dutch discounter Action, as it will open its 1,000th store in Gorinchem (in the Netherlands). The number of Action stores has almost doubled in the last two years.

Richemont forecast huge profit increase for first six months

17/10/2017

Luxury firm Richemont, which owns watch brand Cartier for instance, has forecast an 80 % profit increase for the first half of its fiscal year. Turnover will also grow more than 10 %.

Safe.Shop is new global eCommerce trust mark

16/10/2017

Safe.Shop is the world’s first global eCommerce trust mark. Currently, only twelve countries signed up, but that number should increase in the future.

Retailers the wrong target for action on the supply chain

13/10/2017

(content provided by EuroCommerce) EuroCommerce Director-General Christian Verschueren has expressed his concern towards Agriculture Commissioner Phil Hogan that some of the statements in his speech on 5 October in Dublin could polarise the debate.

Zeeman doubles profit

12/10/2017

Store chain Zeeman’s profit more than doubled in the past fiscal year compared to 2015. Turnover also grew several percent, mainly thanks to strong performances outside of the Netherlands.

British company acquires Intertoys and Bart Smit

12/10/2017

Dutch retail holding Blokker has sold its toy division Intertoys to British investor Alteri. The store chain sale is part of Blokker Holding’s new strategy to focus only on its namesake chain.

Back to top