•The recovery of the Moscow retail market and consumer demand to pre-pandemic levels is expected to take at least two years. The decline in economic activity in the April-June resulted in the closure of many small and medium-sized businesses.

•Shopping mall sales continue to struggle against the background of a decrease in foot traffic. However, several operators have succeeded in maintaining a low vacancy rate and are generating higher sales for selected trades such as fashion, household goods and electronics.

•Retail occupiers continue to optimise network operations by reducing the number of stores. Most closures have occurred in locations that were reporting low sales prior to the pandemic.