November 2023 Retail Trends: Early Week Slump Amid Higher Totals

Retail sales in early November 2023 did not deliver the boost retailers anticipated, a finding reported by Kommersant which cited data from the OFD Platform. The company observed a 4 to 7 percent drop in purchases during November 1 through November 7 compared with the same stretch a year earlier. Analysts note that consumer activity did not rebound to 2022 levels even after autumn promotions had run their course. At the same time, the turnover of retail chains rose in currency terms by about 15 percent, and as a consequence prices climbed by roughly 12 to 20 percent. These contrasting trends highlight how higher overall spend could come with fewer individual transactions in a period of intense discounting.