Retail trade turnover in the capital increased by 7.3% in 2023

In 2023, retail trade turnover in the capital increased by 7.3% in comparable prices, adjusted for inflation, compared to 2022 and amounted to 6.6 trillion rubles. This was announced by Vladimir Efimov, Deputy Mayor of Moscow for Economic Policy and Property and Land Relations.

"The growth in the retail sector in 2023 was mainly provided by the non-food sector. Its turnover increased by 16.7% in comparable prices and reached almost 3.3 trillion rubles. Consumer activity in this segment has recovered, large retailers have adjusted the supply chain, and the products of companies that have left the market are being replaced by domestic brands and trademarks of friendly countries," the deputy mayor noted. 

The turnover of food trade was almost at the level of last year, exceeding 3.3 trillion rubles.

The maximum monthly sales volume was traditionally recorded in December. It reached 763.3 billion rubles, a quarter higher than in the same month of 2022.

The activity of buyers was also manifested in the occupancy rate of shopping centers. According to the estimates of the Department of Economic Policy and Development of the city of Moscow, the density of the flow of visitors to the shopping centers of the capital in December 2023 averaged 280 people per day per one thousand square meters. This is 3.7% more than a month earlier, and 1.8% more than in December 2022. Such dynamics indicates a gradual recovery of this segment of trade after a decline in 2022 due to the departure of a number of foreign companies. Business has adapted to new realities, logistics chains have been built, and more and more domestically produced goods are appearing on the market as part of the import substitution program, the Department noted.