Russian footwear retail market is gradually recovering

According to the statistics of the Russian Federation's National Bureau of Statistics, in 2009, the retail price of leather shoes in Russia increased by only 2.3%. If inflation is taken into account, the market is reduced by 10-11%.

According to the 2010 report on the footwear sales retail trade outlets in Russia, in the first half of 2010, footwear sales in Russia increased by 7.2% compared to the same period of last year. However, the growth rate was far below the pre-crisis level. The market after the crisis is gradually recovering, but it will not soon return to its previous level.

In 2009, it became a real test for most shoe retailers: Maintaining business has become a major task for many businesses. As the income of residents declines, and as a result, consumer behavior changes, the pace of development of retail sales outlets for footwear has dropped dramatically, while intensive development has been more rapid than extensive development. The increase in purchases that occurred during the pre-crisis era has been replaced by a decrease in consumer demand in 2009 and a decrease in the purchase of shoes.

Only large brands and large businesses that have correctly selected development strategies can maintain or even strengthen their position under the new market conditions. For many Russian footwear retailers, this crisis is an opportunity to create new ideas. The Russian footwear retail market was slightly transformed during the crisis. Some merchants with weak competitiveness and poor efficiency left the market. In the future, this trend is expected to be strengthened, and the Russian footwear retail market will be in line with the Western development model.