Muscovites spend 7619 euros a year on purchases
After the recession, consumption in Moscow has grown: residents of the capital spend 7619 euros on retail purchases a year, analysts at Cushman & Wakefield calculated. Retailers' revenues are growing, but not due to increased sales - the cost optimization carried out during the crisis is affecting, experts say to RB.ru. The pressure on the trade business will be exerted by a shortage of space, which is why rental rates this year will grow by 10-15%.
The income of Muscovites is one of the highest in Russia: $ 1532 in 2010 compared to $ 620 on average in Russia. The residents of the capital spend 68% of their income on purchases of goods and services, which is the highest figure among European cities, experts at Jones Lang LaSalle say. According to Rosstat, the average Russian earns $ 8330 a year and spends $ 4941. According to analysts at Cushman & Wakefield, Muscovites spend more money on retail purchases per year than residents of London and Germany: 7619 euros versus 5760 and 5600, respectively.
According to the forecasts of Jones Lang LaSalle, the increased volume of issued consumer loans will continue to influence the growth of retail turnover: + 6,8% in 2010 year and + 1,4% in January 2011 year. Due to rising inflation, sales of durable goods will grow, experts predict.
Maxim Klyagin, an analyst at Finam Management, calls inflation a negative factor for the market: it affected real disposable income, which declined by 2,9% in the first quarter. In January-March, the retail trade turnover in Russia increased in comparable prices by 4,7% (in the first quarter of 2010 - by 2,2%). Klyagin agrees with the forecasts of Jones Lang LaSalle: high inflation motivates consumers to make capital purchases - the purchase of expensive durable goods. “So, it is quite obvious that the overall statistics of the nonfood segment is significantly influenced, for example, by the pronounced dynamics of growth in car sales: almost + 30% only in March,” the expert says to RB.ru.
After the recession, consumption in Moscow has grown: residents of the capital spend 7619 euros on retail purchases a year, analysts at Cushman & Wakefield calculated. Retailers' revenues are growing, but not for ...
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Retail Arithmetic
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