Ukrainian Retail Market: The State and Development Trends

Abstract

The article is aimed at studying the current state of the retail market of Ukraine, determining its state and development trends. The main factors influencing the change in retail turnover are allocated, namely: purchasing power; state and problems concerning the supply of products; development of material and technical base; institutional transformations; increased competition. On the basis of generalization of characteristics of the modern trading market, its main features and development trends are highlighted, the most important of which are: focusing on improving the service; development of Internet commerce; diversifying the additional services; expanding the list of sales channels; optimization of assortment and reorientation of activities in favor of food products. The main indicators of trade enterprises are analyzed on the basis of data of the State Statistics Service of Ukraine during 2010–2020, namely: the number of economic entities in the market, distributed by size and by organizational-legal form, as well as the volume of products sold under the CEA 47 «Retail Trade»; regional structure of retail turnover (legal entities), structure of products; retail turnover by product groups. It is emphasized that the transformation processes that take place in retail trade relate to both changes in the trading objects themselves and the channels of sale of products. It is defined that the process of globalization in the domestic trade of the country is taking place, accompanied by the widely spread tendency of transition of retail enterprises to the Internet space along with search for platform companies. The need for further support of business on the part of the State, stimulation of its development, taking into account modern requirements, is substantiated. It is emphasized that timely implementation of measures by the owners of retail enterprises will be instrumental in their adaptation to modern market conditions, increasing the competitiveness and efficiency of their activities.

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