According to the report analysis, ‘Retailing in Ukraine, Market Shares, Summary and Forecasts to 2022’ states that some of the major companies which are currently functioning in this domain for acquiring huge share across the globe by dominating the demand of the potential buyers with the help of online platform and introduction of new stores in the popular vicinity includes Ostin, Zara, Sportmaster, ARGO, Colin’s, Adidas, Intersport, Kari, Celio, Bershka, ATB-Market, Auchan, Silpo, Furshet, Great Kyshenya, EKO-Market, Nash Kraj, Billa, Velmart, For a, Foxtrot, Eldorado, Allo, Comfy, Epicentr K, Kyivstar, Auchan, Diawest, Amazon, Ringoo, Watsons, Kosmo, Prostor, Med-Service, Apteka Nyzkyh Tsin, EVA, Avon, Ukrainian Pharmacy Holding LLC, Farmacia, Epicentr K, Leroy Merlin, Budmax, ATB-Market, Oldi, Nova Linia, Jysk Nordic, Cilek, Furshet and several others. Whereas, footwear, furniture and floor covering, sports and leisure equipment, food and grocery, electricals and electronics, clothing, health and beauty products and several others are the major products which served by the retailers on both the platforms such as online and on stores.
The retail market of any economy is playing an effective role in the development and significant urbanization in economy. As the retail market consists so many technological development and various distribution channels. Moreover, the significant increase in disposable income and dynamic change in the lifestyle of the consumers are the two major key factors for leading the retail market growth. In Ukraine the key players are adopting effective strategies and policies for gaining the effective share and accomplishing the growing demand of potential buyers across the globe by establishing the business on an online platform. Therefore, the retailing can be done by introducing the stores as well as with the e-commerce platform while, in the recent trend the e-commerce platform is dominating the market more significantly as the women workforce is taking lead and busy schedules of the young population. It is also believe that the online purchase has become more effective rather than purchase from stores as online platform serve huge variety of products and less time consuming which result in the significant growth of the market.
In 2017, the retail market growth started developing in Ukraine because of the improved wages, positive economic growth which is majorly supported by private spending. Whereas, the clothing and footwear category of retailing is registered for 8.1% of total sales in 2017 and is forecasted to grow at a CAGR of 6.2% in the near future. Not only has this, food and grocery is the highest sector in Ukraine retail market and is anticipated to rise highest growth with a CAGR of 8.6% in the period of 2017 – 2022. The development of healthcare sales is widely constituted with the increase in old age population which is anticipated to grow in the coming trend. The home sector is showing the effective efforts in producing moderate sales growth because of the weak housing market in the country.
Therefore, in the coming years it is expected that the market of retailing in Ukraine will grow more actively with the growing demand of the products over the next few years.
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Ankur Gupta, Head Marketing & Communications