"We have lost hold on reality during the last 8 years!" - said Alexey Krivishapko (Prosperity Capital Management) on the conference "Retail in Russia" as cause of the crisis in Russian retail. Although Russia's economy have closely interplayed with the rest of the world, the present days situation and forecasts for 2009 for Russian retailers are more positive than for retailers in Europe and USA. According to estimates from Prosperity Capital Management analysts, Russia still have a big potential for a retail market increase.
As Alexey Krivishapko's forecasts say the 2009 volume of households' demand not will change, the retail in Russia can expect of growth on 5%, though the real growth of the economy is expected to be 1%. Furthermore, 2009 average growth of salary will be 13% (23% in 2008). Analysts are forecasting that inflation in 2009 will be 9-10% and price on commercial and other real estate will fall 30%.
