Association sees Russia’s retail sales rising 5–6% in 2021

MOSCOW, Jul 28 (PRIME) -- Russia’s retail sales will grow 5–6% on the year in 2021, Chairman of the Retail Companies Association’s Presidium Igor Karavayev said in an interview with PRIME, released on Wednesday.

“The economy has been gradually recovering. In January–May, retail sales grew 10% on the year, and we expect growth of 5–6% by the end of the year,” he said.

Russian retailers see no prerequisites for feverish demand during the third wave of the coronavirus pandemic similar to the one seen last spring, Karavayev also said, adding that the retail chains will prevent a deficit.

“There are no prerequisites for such feverish demand at present. Last year the retail chains handled the situation swiftly and very effectively: introduced additional capacities, created excessive stock of selected categories of goods that were in high demand,” he said, adding that now the retailers have enough experience to forecast and solve such situations.

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