date:Feb 28, 2013
new mega malls this year.
In general, food is driving retail sales, as it remains a big part of most Russians' shopping baskets. Retail sales decelerated at the end of last year, falling from 7% year-on-year growth at the end of 2011 to 5.9% in December 2012. But food sales continue to grow more quickly, according to VTB Capital.
Still, analysts are expecting things to cool down this year. The key risk for consumption will be the substantial deceleration of budget spending from 18% year-on-y