bne:Chart – Footfall in Russian malls down 7% on year

By bne IntelliNews November 2, 2015

Henry Kirby in London -

Footfall in Russian shopping malls fell 7.6% in the second week of October compared with the same point last year, according to figures by market research firm Watcom.

The data from the Watcom shopping index, which uses people counting devices to measure shopping activity in malls, followed a trend of year-on-year decreases, which has seen every week in 2015 mark a decrease compared with the year-earlier period.

The index fell month-on-month too, from 502.3 to 490.5. A year ago the index measured 530.9, and two years ago sat at 569.6.

Despite a small fall in week 42 of this year, the preceding month has seen a general upswing in the index. However, any talk of a sustained bounce back in footfall would be premature, said Watcom’s group president, Roman Skorokhodov, citing the continuing decreases in real wages across Russia.

September represented the 11th consecutive month of year-on-year real wage decreases in Russia, with a 9.7% drop in monthly earnings. Year-on-year retail sales also fell in September, by 10.4% - the ninth consecutive month of decreases, according to Rosstat.

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