NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2007/10/24 - The stable and growing economic conditions of Russia have worked wonders for its retail industry, particularly non-food retail sector that has started to expand tremendously and is expected to outshine the food sector in near future.
"Russian Food and Non Food Retail Forecast (2007-2011)”, the latest report from RNCOS, a leading market research company, is a systematic and analytical study of the Russian retail industry. The report predicts the Russian retail industry to climb up at a CAGR of 17% during 2007-2011 and non-food sector will have a higher share in the combined retail sales than the food sector.
The report says that during the forecasted period, non-food retail sector is anticipated to grow at a CAGR of 19% and cross US$ 468 Billion by 2011 end. On the other hand, the percentage share of food retail sector, which is expected to ascend at a CAGR of 13.7% only during 2007-2011, has been falling year on year since 2001 in overall retail sales.
A senior analyst at RNCOS said that the growth of non-food sector to increasing disposable incomes, economic stability and growth, rising purchasing power, and changing buying habits of Russians are directing this morphosis of consumption trend.
The RNCOS research also marked the areas that will show substantive growth in the non-food retail sector; these include household cleaning products, cosmetics and toiletries, computers, furniture, and washing machines. But, as per the report, clothing segment will have the major share in non-food retail sales in terms of market value.
In the long run, the retail growth in the country is projected to remain strong but some factors, including ineffective distribution network, and poor infrastructure (leading to high logistics costs and inventories) may disturb the trajectory.
"Russian Food and Non Food Retail Forecast (2007-2011)” is a comprehensive study on the Russian retail industry. It evaluates the food and non-food segments with foci on their sub-segments, subsuming baby food, organic food, packaged and processed food, clothing (menswear, womenwear, and infant wear), footwear, furniture, computer, and TV, among others.
An account on retail formats prevailing in the retail industry is also covered in the report. The factors that decide the market’s future, like consumer behavior, emerging trends, and regulatory environment, are prudently analyzed in the report to dissect the future scenario of Russian the retail industry.
RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of industry experts who analyze data collected from credible sources. They provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.