Author Archives: CrispConsulting

The growth of earnings in Russia is gradually yielding the inflation

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In the year 2011, despite the weakening of crisis consequences, real salaries in Russia grow slower than in the year 2010, according to the information provided by the company “Ernst & Young”. The recruiting agencies remark that the salary growth will continue, but this growth will regard only the most effective and indispensable employees.

According to the research of “Ernst & Young” (E&Y), this year the salaries have grown, but less than last year. From July 2010 till June 2011 the average nominal salary growth has made 11%. Last year the growth rates were less—9.6%. However this year the salaries could get ahead the inflation only 1.6% (Last year this index was 3.9%).

Source: www.kommersant.ru

The Italians predict growth of kiwi exports to Russia

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Thanks to good weather and absence of rains the production of kiwi fruit in Italy will grow 15-20% and will exceed 500 thousand tons. Growers expect high quality of fruit and growth of supplies to Russia. This forecast has been made by Diego de Lucca/company Alegra at the exhibition Macfurt 2011 that is being held this week in Italy.

The company Alegra is one of the most important fruit growers and exporters in Italy. Every year they produce about 45-50 thousand tons. Most of all they export stone fruit (nectarines to Russia), kiwi and apples. The kiwi cropping is planned for the end of October, and the supplies will start the second week of November.

Source: www.fruitnews.ru

The Russians are buying cheap potatoes. Fruit sales are slumping.

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With the appearance of cheap seasonal products at the market, Russian consumers renounce buying fruit and vegetables traditionally present at their tables.
Retailers talk about the dramatic decline of import. This tendency was noted by Elena Koroleva, head of purchasing department of the supermarkets “7Я” (“Semya”), within the framework of the business program of the exhibition Macfrut 2011/3d European fruit summit, that is taking place in Italy this week. This tendency is due to low prices; consumers remember the last year prices for potatoes that reached 50 rubles per kg.
Source: www.fruitnews.ru

«O’Key» is planning to build 2 hypermarkets in Krasnodar Territory

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The company “O’Key Group” is planning to build 2 hypermarkets in the Krasnodar territory by the year 2015. The total cost will be 1.3 milliard rubles.

In particular, 1 milliard rubles will be invested to the building of the hypermarket in Novorossijsk, 320 million rubles—in Sochi. The building will be carried out at the company’s cost. In the year 2011 the placement of the “O’Key Group” hypermarket in the shopping center “More Mall” in Sochi will start. It will start working in the 2nd quarter of the year 2012. In the year 2013 the building of the hypermarket in Novorossijsk will start. The company is also planning to build 5 hypermarkets “O’Key express” with the total cost of 600 million rubles.

Source: www.lol.org.ua

11th Annual Russian Retail Forum. March 2012

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26 – 29 March 2012

Marriott Grand Hotel, Moscow, Russia

The Russian Retail Forum is a strategic meeting place for the elite if retail industry.  The CEOs of IKEA, OBI, Eldorado, Dixi, Metro Cash&Carry, Auchan, ACORT and Ozon make up the 2012 Forum’s Steering Committee, and contribute to developing the event programme.

At the RRF 2011 the dynamic mix of plenary sessions, interactive discussions, panel debates and round tables contributed to what many delegates described as the ‘best ever’ event.

Russia is the first in Europe to introduce new retail departments

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The number of new shopping centers in Russia in the year 2011 is setting all the records. Lots of shops, including large trading networks, that occupy new modern buildings, are showing steady growth of sales.

According to the information of the American real-estate agency Cushman & Wakefield Inc., only in the first half of the year nine new shopping centers with the total area of 400 thousand square meters were opened. This is the highest number in Europe. During the whole last year there were built only 488 thousand square meters.

It is expected that by the year 2012 approximately 3 million square meters of salesrooms will be put in commission.

Nowadays there are 80.5 square meters of sales area for 1000 habitants in Russia. This is 30% less than in 27 countries of the European Union.

The rent in Russian shopping centers varies between 750 euro and 2200 euro for 1 square meter.

Source: www.foodnewsweek.ru

The number of poor people in Russia has returned to the crisis maximum

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The income of about 15% of the Russians is lower than the living wage, defined by the Federal State Statistic Service (Rosstat). Herewith during the first half of the year 2011 the number of poor people in Russia has increased 2 million people and has reached the level close to the peak of the crisis.

The situation for the country, where the president will be elected in almost a year, seems to be paradoxical. According to the statistics published by Rosstat on Tuesday, the number of poor people in Russia—those whose income is lower than the living wage—has increased 2 million during the first half of the year 2011, and reached 21.1 million people.

The Rosstat experts explain that the number of poor people in Russia is largely due to the high growth rates of the consumer basket cost. In the second quarter of the year 2010 it was 5625 rubles, this year it is 6505 rubles per person a month.

In comparison with the first quarter of the year 2011 the minimum subsistence level has grown 0.5 %. Herewith the cost of food in the consumer basket has decreased 0.2 %, the cost of non-food goods and services has grown 1.7 % and 0.7 %,–informs Rosstat.

At the same time, according to the Russian Forbes, the number of multi-millionaires in Russia has increased by half. In Russia there are 200 businessmen—multi-millionaires. During the previous years there were about 100 people. The total wealth of 100 most rich people makes $432 milliard.

At the top of the list of the richest Russians there are owners of big metallurgical and oil companies. However, there are also 18 members of the Federal Assembly of the Russian Federation—10 deputies of the Russian Duma and 8 senators.

Source: www.kommersant.ru

Retail will grow 5.5% a year

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According to the forecast of the social-economic development of the Russian Federation for the year 2012 and the planning period 2013-2014, prepared by the Ministry of Economic Development and Trade, the growth rate of the retail turnover in the years 2012-2014 won’t exceed 5.5% a year.

The growth dynamics of non-foods will advance the growth dynamics of food products. In comparison with the year 2010 the food products turnover will grow 8.4%, whereas the nonfoods turnover will grow 38.2% by the year 2014.

In the food products structure the sales of more expensive products will grow, such as meat and poultry, fish, cheeses, fruit, vegetables and berries. At the same time sales of bread and bakery products will decline.

Source: www.fruitnews.ru

Deputy finance minister Anton Siluanov will perform Alexey Kudrin’s duties

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After the dismissal of Alexey Kudrin the finance minister’s duties will be performed by his deputy Anton Siluanov, and the financial and economic sector will be supervised by the first vice-prime minister Igor Shuvalov.

Siluanov controls intergovernmental fiscal relations, as well as financing of the military-industrial complex in the Ministry of Finance. He has been working as deputy finance minister from the year 2003.

Source: www.dp.ru

The Finance Minister Alexey Kudrin has been fired

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The president of Russian Federation Dmitry Medvedev has fired the finance minister, vice prime-minister Alexey Kudrin. This is the most significant dismissal during the Dmitry Medvedev’s presidency. The reason was that Alexey Kudrin had announced that he wouldn’t like to work in the government that Dmitry Medvedev would form in May 2012, because he had some important disagreements, concerning expenditures on military ends.

Source: www.dp.ru