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Russian retail market survey
PricewaterhouseCoopers has conducted its first survey of the Russian retail market: “Shopping for the Future”. The report’s main goal was to examine the most important issues and problems facing retailers today for business development.
The retail sector is very dynamic, and companies need effective strategies to deal with developing private labels, changing consumer shopping habits, developing products and services to attract and retain increasingly discerning customers, regional (and potentially overseas) expansion, and expanding consumer credit.
Survey participants noted that recently, the Russian retail sector has demonstrated rapid growth — from discount goods to luxury items – the driving factor of which was the growing purchasing power of Russian consumers. In light of the dynamics of retail sector development, respondents expect this trend to continue in the near future.
Among challenges survey participants mentioned are administrative barriers (77%), increasing competition (55%), infrastructure factors (45%). Other challenges include attaining operational effectiveness and cost reduction, shortage of good retail space, warehousing, logistics and supply chain management (and availability of specialists), as well as potential accession to the WTO.
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