The turnover of the retail trade in Moscow increased by 8.6% in the first six months

Retail trade turnover in the Russian capital reached 3.47 trn rubles in the first six months of 2024 which means an increase of 8.6% in comparable prices to the same period last year. This was announced by Maria Bagreeva, Deputy Mayor of Moscow, head of the Department of Economic Policy and Development of the city.

"The growth was mainly provided by the non-food sector. Its turnover increased by 15.5% and amounted to 1.74 trn rubles. The largest growth was shown by shops selling cosmetics and perfumes, clothing, jewelry, sporting goods, as well as car dealerships. 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," underlined the Deputy Mayor.

The turnover of food products also increased: growth reached 2.5% to 1.73 trn rubles. Moscow's share in the total retail trade turnover of the country in January — June was 13.4%.

The activity of customers was also noted in the occupancy rate of the capital's malls. Their attendance in the first half of year increased by 2.7% compared to the same period last year. In particular, the flux density of visitors in June this year averaged 275 people per day per thousand square meters, which was five percent higher than in June 2023. This is higher than in 2022, but still below the results of the pre-pandemic 2019 — 369 people per day per thousand square meters.

The increase in traffic is mainly provided by small malls: in district with an area of up to 20 thsd square meters and in districts with an area of 20 to 40 thsd square meters which are visited by an average of 630 and 490 people per day per thousand square meters, respectively.