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RNCOS Research: Rise in Russian Retail - A Mix of Strategy and Consumer Interest
RNCOS Research: (http://www.marketsmonitor.com/category/CP14.html) In Russian retail markets both retailers and consumers currently face change. The former have concerns for space and range management, development of private labels and shopper loyalty.
/Franchise PR News/ - NEW DELHI, INDIA, April 01, 2006 - RNCOS Research: (http://www.marketsmonitor.com/category/CP14.html) Modern Russian retailers have pressing concerns on issues such as category, space and range management together with development of private labels and shopper loyalty. There are other issues like creating an efficient supply chain, stock and category management. A crucial one in the future success of Russian retail market is the co-operation between retailers and suppliers. This picture exists among multinationals and local retailers in Moscow and St. Petersburg.
The retail market in Russia is dominated by small and medium sized traditional stores, open markets and kiosks. This has significantly changed Russians' attitude to shopping. They regard shopping as an entertainment; prefer to buy luxury goods and experience shopping affection. Of course, this is added by growing income of the Russians, the country's political stability, and economic recovery over the past few years. The current low market concentration enables domestic retail companies with development potential accompanied with promising growth.
Both retailers and manufacturers meet consumer needs and expectations by emphasizing advanced tools like category management by making to grow category sales. Brand equity and shoppers' loyalty have also been identified as long-term goals for Russian retailers. Consumers therefore find a greater choice and so their purchases are becoming increasingly sophisticated. As a result the gain-sum, retain-ship and expansion of brand equity is of utmost importance for retail chains.
In a recently published market research report by RNCOS namely "Organized Retail Sector in Russia (2005-2008)" experts predict that the retail market in Russia will outgrow real disposable income in the country. The retail market is expected to grow at around 11%-13% till 2008.
The report includes a comparative study of various business houses connected with retail stores. There are also analyses on opportunities and threats for the Russian retail industry. Experts find that owing to infrastructure constraints, corruption and red-tapism in the country and open market competition Russian retailers are facing acute shortage of space, efficient supply chain and logistics.
The report also contains strategic and technical information, which could help product suppliers, investors and financial analysts, supply chain managers, and retail store equipment vendors to evaluate market performance and arrive at appropriate decisions.
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