NewswireToday - /newswire/ -
Delhi, New Delhi, India, 2007/11/20 - The stable and growing economic conditions of Russia have led to tremendous expansion of its food retail industry that is projected to move ahead at a CAGR of 14% during 2007-2011.
"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 that the Russian retail food industry would climb up at a CAGR of 14% during 2007-2011.
According to the report, Russia stands at second spot among the most attractive retail markets of the world. The food retail industry has shown visible sign of growth largely driven by the rising disposable income and unsaturated consumer market, besides the thrust by hypermarkets and large-scale supermarkets, mainly in cities like Moscow and St. Petersburg.
The growth is further boosted by few leading foreign retailers like Auchan and Metro, and also considerably by the domestic players who are experiencing rapid growth while becoming extremely proficient, despite increased penetration by foreign competitors. The report notifies the X5 Retail Group as the market leader in Russia. Though it has a small share, but the company is expanding rapidly witnessing solid growth in the country.
Although various companies are exploring the market, only a small number of international food retailers have their presence in Russia. The world's second largest grocery retailer, Carrefour (France), has also shown interest to enter the Russian market by the end of 2007, with focus on markets other than St Petersburg or Moscow by opening an expected 5-10 stores a year, similar to its Chinese strategy.
The research also highlights the opportunity area lying in the groups of small urban cities that are largely untouched by big players, despite the phenomenal growth of Russian food retail market in recent years and hence, have huge growth prospects.
Apart from the growth promoters, “Russian Food and Non Food Retail Forecast (2007-2011)" gives a comprehensive and updated overview on the Russian retail industry by evaluating the different parameters including the emerging trends, different retail formats and market segment, with past performance and effect of growth fuelling forces and roadblocks to judge the future course of direction of the industry.
The key issues addressed in this report include the regulatory environment, competitive scenario, consumer behavior, opportunities and factors critical to the success of retail industry in Russia.
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.