Cafes and restaurants began to close en masse in Russia
In the fourth quarter, the number of operating outlets fell by 10.4 percent. Analysts of the study recorded that cafes, pizzerias, sushi bars and bakeries were closed most often in the fall, and the pace of openings decreased the most at street food establishments, bars and shot glasses. Moreover, in the segment of fast food establishments, the number of openings exceeds the number of closures. Irina Burenko, Commercial Director of R4S Group, said that street food and coffee shops accounted for 35 percent of rental transactions in the first quarter, and 9 percent in the fourth.
Experts explain the reasons for the developing crisis in the market in different ways. Some attribute the decline to the fact that consumers began to redistribute spending and seriously save against the background of general uncertainty. There is also an opinion that the situation was influenced by the "general autumn instability," said Nikolai Oligerov, a leading analyst at R-Keeper.
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