Falling retail sales to reduce assortment of products in medium and high price segment

According to the National Statistics Committee, retail trade turnover in Belarus decreased by 3.5% in January-October 2016. The negative trend was due to the fall in real wages by 4.1% and the growth in utility costs. Retail trade turnover is likely to continue to reduce against the background of eroding household savings. Major retail chains may rearrange available space in order to attract new tenants from other consumer market segments and layoff some administrative and technical staff. New shopping facilities are likely to open only in the regions with high wages. Given the expected decline in the average ticket at shopping sites, assortment of products in the high and medium price group is likely to reduce and some costly goods may disappear from the shelves of retailers.