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Over the past year, fundamental changes have occurred on the Ukrainian market, due to stable continuous 4-year GDP growth, consistent reforms, and ratification of the Association Agreement between Ukraine and the EU.
Ukraine demonstrates high results of growth in welfare, salary and retail turnover. Thus, the salary level in the first half of 2018 compared to the same period of the previous year increased by 34.6%. The retail turnover in 2017 increased by 9%, and in 2018 – by 5.5% (during January-September 2018). In general, the turnover rate in Ukraine is higher than in Denmark, Finland and Hungary, and is comparable to that in Norway and Greece.
Positive economic changes became a powerful signal for the largest international retailers, who have been doubted entering the Ukrainian market for a quarter of a century since the country gained its independence. Only in 2018, such brands as H&M, IKEA, DeFacto, Koton, Under Armor, Intersport, Decathlon start operating in Ukraine. Over the past two years, more than 50 brands have successfully entered the Ukrainian market. New retailers are extremely satisfied with their financial results. The average turnover of the opened fashion store is about 3,000 euros per 1 square meter annually.
The best indicators and the most dynamic development is in Kyiv, a city with constant population growth. For now, the capital of Ukraine has a population of about 5 million people, counting the suburbs inhabitants the overall population is about 7 million people; creating the country’s largest retail market with a turnover of $ 8.56 billion in 2017, that is higher than in Helsinki; this indicator is also comparable to the volume of retail turnover in Budapest.
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