Russia: Clothing, Footwear Sales Down 4% in 2019

13 January 2020 (09:08)

UrBC, Moscow, January 13, 2020. Russian market’s clothing and footwear sales dropped for the first time since 2015 last year, Kommersant refers to Fashion Consulting Group (FCG)’s research findings as indicating.

In 2019, the country’s fashion market shrank by 3% to 4% (down to RUB 2.26-2.29 trillion). The sales of clothes, shoes, and accessories declined for the first time since 2015, when the turnover decreased by 9% (down to RUB 2.27 trillion). A year later, the market’s turnover rose by 1% (up to RUB 2.3 trillion) and a year after that - by 3% (up to RUB 2.36 trillion).

Analysts believe the market decline has to do with the Russian’s shrinking factual incomes, VAT increase, inflation, and the atypically warm winter months of 2019.

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