Fashion Consulting Group director Anush Gasparyan said that since February 2022, the decrease in sales of clothing, shoes and accessories in Russia is 40.5%. leads to Forbes.
Since the imposition of Western sanctions in Russia, more than 100 international brands have been suspended, as the supply of clothing and shoes has decreased by a third. After February 24, Inditex, which represents Zara, Massimo Dutti and other brands, as well as H&M, Uniqlo, Adidas and other retailers, suspended its operations in the country.
Another reason for such a sharp decline in sales was the declining real incomes of the population. Gasparyan said that under these conditions, Russians prefer to save money, especially on clothing and shoes.
Anastasia Lipatova, business partner of the Yandex fashion industry, expressed a similar opinion. According to him, due to the sharp decline in the range of clothing and shoes, 23% of Russians could not buy the necessary things. 26% of the respondents admit that they prefer to wear something because of their commitment to the conscious consumption approach.
After the departure of large foreign players from the market, Russian brands began to appear more often on the Ozone market. Turnover from sales of goods in this category, including clothing, shoes and accessories, in the second quarter of 2022 augmented 2.8 times. More than half of the vendors offer their customers adult clothing, 46% accessories for adults and children, 28% jewelry, and 26% sportswear and shoes.