A socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events.

The Roscongress Foundation is a socially oriented non-financial development institution and a major organizer of nationwide and international conventions; exhibitions; and business, public, youth, sporting, and cultural events. It was established in pursuance of a decision by the President of the Russian Federation.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5,000 people working in Russia and abroad.

The Foundation works alongside various UN departments and other international organizations, and is building multi-format cooperation with 173 economic partners, including industrialists’ and entrepreneurs’ unions, financial, trade, and business associations from 78 countries worldwide, and 188 Russian public organizations, federal and legislative agencies, and federal subjects.

The Roscongress Foundation has Telegram channels in Russian t.me/Roscongress, English – t.me/RoscongressDirect, and Spanish t.me/RoscongressEsp. Official website and Information and Analytical System of the Roscongress Foundation: roscongress.org.

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Research
12.04.2019

Retail Barometer

In the first half of 2018, GDP in Russia demonstrated positive dynamics. Analysts observe low official inflation rates and a growth in real wages. Still, consumers continue to feel inflationary pressure. There is a growing tendency towards cutting one’s spending, while the average purchase amount is going down. Consumers tend to prefer cheaper products and convenience stores and are getting increasingly sensitive to rising prices. Meanwhile, a further surge in prices is unavoidable due to an increase in cost prices for many goods.

Despite all this, retailers in the majority of segments state that their business is growing. The household appliances and consumer electronics segment is developing the most actively, while the slowest growth is found in the segment of children’s products.

Compared to previous years, retailers have much more pessimistic expectations for the future. Growth of strong players will most likely be achieved at the expense of weak companies which didn’t manage to adapt to the new conditions. The new VAT rate, together with a decrease in purchasing power, is expected to result in a drop in operating profits. This situation will force retailers to revise their strategies. They will have to «tune in» to consumer needs, build a flexible operational system, and raise cost-effectiveness.

In the new conditions, qualified personnel, well-organized work with suppliers, and digitalization of internal processes will become main drivers of growth.
Release date
03.09.2018
Topics
Analytics on the topic