Russian clothing sales growth.%
The Russian business consulting website reported that according to data cited in the Russian clothing market analysis launched by BusinessStat, Russian clothing sales increased by 1.3% from 2013 to 2017, from 454 million pieces to 460 million pieces. Sales volume declined between 2013 and 2015, with the largest decline in 2015, a year-on-year decrease of 16.1%. The reason for such a sharp decline is that the real income of Russian residents decreased significantly in 2015, and consumers postponed purchases that could be postponed.
In 2016-2017, Russian clothing sales recovered. Clothing sales climbed rapidly in 2017, increasing by 16.5% compared with 2016 and exceeding the level of 2014 before the economic crisis. This fact can be explained by the fact that in 2017 consumers not only satisfied the current demand for clothing, but also satisfied the clothing purchases that were not realized in 2015-2016 due to economic reasons.
Clothing sales in Russia are dominated by imported products. From 2013 to 2017, imported clothing sales accounted for approximately 80%. This share even increased in 2017, as sales growth was largely driven by increased imported supplies rather than increased domestic production. Therefore, the apparel manufacturing industry cannot yet talk about import substitution.
According to BusinessStat, Russian clothing sales will decline slightly in 2018 compared with 2017. Russian clothing sales will resume growth in 2019-2022, but the growth rate will be more moderate than in 2016, with an annual growth rate of 0.2-3.1%. The slow recovery of residents’ actual income levels will affect clothing demand. Russian clothing sales will reach 448 million units in 2022, 1.1% below the pre-crisis level in 2014. (Title: Russian clothing sales increased by 16.5% in 2017)
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