Russia Apparel & Footwear Market Discussed in New Euromonitor International Study Now Available at MarketPublishers.com19 May 2015 • by Natalie Aster
LONDON – In 2014, the development of the overall apparel and footwear industry in Russia slowed down. Though present value growth rates were positive throughout 2014, nearly all categories registered negative growth during Q4 2014. This resulted in several top international apparel and footwear brands departing from Russia. During 2015-2016, the apparel and footwear sector is likely to see further decreases similar to the declines posted during the country’s economic crunch in 2009.
Childrenswear remains the most immune category to economic downturn due to the reluctance of parents to spare money on products for their children even in tough economic times. During 2014, the category posted double-digit present value growth, which can also be explained by Russia’s high and stable birth rates. Further, the category recorded immense hike in online sales by the end of 2014.
Internet retailing in the country keeps on record stable growth year by year, with apparel and footwear being no exception. In addition to the time efficiency and convenience which online retailing provides, domestic consumers are increasingly embracing the opportunity to compare prices and choose the best variants online.
The strong economic downturn in Russia during 2014 is likely to considerably influence apparel and footwear sales during the first couple of years of the forecasted period. The Russian apparel and footwear industry extremely relies on imports and, in this regard, the ruble’s declining exchange value is forcing up unit prices when consumers are about to cut back on spending.
Cutting-edge research study “Apparel and Footwear in Russia” drawn up by Euromonitor International provides extensive insights into the Russian market for apparel and footwear. It provides the actual retail sales data (values and volumes) for 2009-2014, which is essential for identifying the sectors driving growth. The report offers competitive intelligence on the leaders in the market, top brands, market shares, in tandem with a strategic analysis of key factors that are affecting the marketplace. The study tracks the recent industry trends, developments, threats and opportunities; exhaustive segmentation of overseas and local products. In-depth forecasts of market trends and growth through to 2019 are also provided in the study.
Apparel and Footwear in Russia
Published: May, 2015
Price: US$ 2,100.00
More new reports by the publisher can be found at Euromonitor page.