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Strategic Innovations Help Russian Retail Toddler Become a Sprinter
Mar 29, 2006
Russia’s retail sector is considered the most attractive market for retail development in the world. This growth is expected to continue till at least 2010. International retailers recognize the excellent opportunities available here and therefore competition is gradually increasing requiring for consolidation across the sector. It is also time for retail executives to outline their strategies for long-term success in the market.
Corporate in Russia will have to strategize on issues such as: regional expansion and consolidation, alliances and partnerships, raising finance, location and real estate policy, marketing, advertising and branding, pricing policy, optimization of operations, and supply chain management and distribution to determine their success.
A recently published market research report by RNCOS named, “Organized Retail Sector in Russia (2005-2008)” enumerates the size and shape of the market at a national level. There are latest retail sales data, indicating the sector’s growth drive. The key factors influencing the market are listed as new product developments, packaging styles, distribution and pricing systems, and economic and lifestyle factors.
While modern retail marketing is flourishing in Russia there is a parallel group of Russian consumers who are not particularly fastidious for advanced novelties and specialized household care products. This population of the rural and provincial towns prefers to use traditional household products and is loyal to low-priced brands coming on from the Soviet times.
The report predicts that the retail growth in the coming years would be stronger than GDP growth resulting from changing lifestyles and high income growth. A major inefficiency is in the distribution system owing to poor infrastructure quality which raises the logistics costs compared to GDP. The high distribution costs, however, create opportunities for existing retailers to keep a check on their competitors.
The report includes a comparative study of various business houses connected with retail stores. There are also analyses on opportunities and threats for the Russian retail industry. Experts find that Russian retailers are facing acute shortage of space, inefficient supply chain and logistics.
The report also contains strategic and technical information which could help product suppliers, supply chain managers, investors and retail store equipment vendors to evaluate market performance and arrive at appropriate decisions.
For more information visit: http://www.rncos.com/Report/CP14.htm
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