In Moscow, turnover of the fashion retail market has stabilized at 72 to 75 percent of pre-coronavirus crisis levels, research conducted by the Moscow-based IT company Evotor showed.
Fashion retail is recovering slower than other retail segments, and as of the end of July the growth in turnover on this market had completely stopped, it said.
The picture is similar in other regions of Russia. In general, not all shoes and clothes stores have resumed operations yet. According to Evotor, nearly 85 percent of stores have been opened, since Covid-19 in some regions has been handled better than in the others.
Shoe stores are doing even worse than fashion retail as a whole. The turnover of non-networked stores has reached only 49 percent of pre-crisis levels, Evotor said. It is believed that networked stores are doing only slightly better.
Russian economists warn that the falling purchasing power of the Russian population would hamper sales of non-essential goods in the country in the second half of the year.
According to the Russian statistics agency Rosstat, an estimated 4.5 million people were out of work at the end of May, up by 85 percent since March. In 2019, Russian had only 1.3 million people registered as unemployed.