Charles Slater, Partner, Head of Retail Services at ООО «Кушман энд Вэйкфилд», Russia
The Russian retail market continues to show real promise relative to the European markets. In spite of lackluster GDP and retail sales turnover prospects in many mature markets, Russia with anticipated GDP growth of 4,8% in 2012 and retail sales growth of around 9% to 2013 remains on many retailers expansion wish lists. This has fueled the development market back to life with developers not just focusing on Moscow, St. Petersburg and the “millionniki” cities, but also cities with populations over 250 000 people, many of which remain starved of modern day retail. 2012 will be an exciting year with outlet centers and power centers opening– new and pioneering retail formats for Russia - being driven by the ever more demanding and sophisticated Russian consumer.
Published in CCE Retail Guide