Footwear stores hit hard in Moscow and St. Petersburg
Shoe Intelligence, based on estimations by Moscow-based think tank Evotor, is reporting a 17% plunge in sales of independent footwear stores in Russia in September. Decline is more severe in Moscow and St. Petersburg
This takes place on the back of the second wave of COVID-19 in the country. The 17% decline represents an average and is in comparison with the same period of the previous year. Sales dropped by 28% in Moscow and by 26% in St. Petersburg – more than in the rest of the country, according to Evotor’s reports.
A fall in the local population’s purchasing power and new quarantines leading to telework, commented Andrey Romanenko, Evotor’s General Director.
The number of new coronavirus cases has tripled in Russia since August, with Moscow and St. Petersburg reporting the highest number of new cases.
Image credits: Nikolay Vorobyev on Unsplash
Source: Shoe Intelligence
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