1. Analyst View 

2. Research Overview 

3. Industry Overview
     3.1 Worldwide Retail Sales
     3.2 Worldwide Retail Sales by Geographical Regions
     3.3 Western Europe - Retail Sales
     3.4 Eastern Europe - Non-Food Retail Sales
     3.5 Russian Retail Industry
            3.5.1 Russia as an Emerging Market 

4. Industry Performance
     4.1 Russia Retail Sales - By Region
     4.2 Russia Retail Sales - By Composition
            4.2.1 Food Retail Sales
                   4.2.1.1 Major Food Retailers
            4.2.2 Non-Food Retail Market
                   4.2.2.1 Major Non-Food Retailers
     4.3 Retail Sales - By Product
            4.3.1 Apparel
            4.3.2 Household Appliances
            4.3.3 Alcoholic Drinks
            4.3.4 Electronics
     4.4 Russia Retail Sales - By Retail Format
            4.4.1 Hypermarket
            4.4.2 Supermarket
            4.4.3 Discounters
            4.4.4 Convenience Stores
            4.4.5 Cash & Carry Format
            4.4.6 Specialty Stores
                   4.4.6.1 Do It Yourself (DIY)
                   4.4.6.2 Drugstores
            4.4.7 Malls 

5. Demographic Profile and Consumer Behaviour
     5.1 Population
     5.2 Favourable Population Breakup
     5.3 Urbanization of the Population
     5.4 Income/Buying Power of the Consumers
     5.5 Consumer Behaviour
            5.5.1 Household Consumption Pattern
            5.5.2 Lifestyle and Shopping Habits 

6. Industry Analysis
     6.1 Drivers
            6.1.1 Disposable Income
            6.1.2 Gross Domestic Product (GDP) and Consumer Price Index (CPI)
            6.1.3 Declining Unemployment
            6.1.4 Change in Urban-Rural Proportion
     6.2 Opportunities
            6.2.1 Sustained Economic Growth
            6.2.2 Increased demand for Healthy Products
            6.2.3 Development of Consumer Credit
            6.2.4 Urbanization of Population
            6.2.5 Joint Ventures with Foreign Investors
     6.3 Challenges
            6.3.1 Struggle for Space
            6.3.2 Logistics and Supply Chains
            6.3.3 Potential WTO Accession
            6.3.4 Intellectual Property Rights
            6.3.5 GDP Growth in the Future
            6.3.6 Decline in Population Growth
            6.3.7 Fraud and Counterfeits
     6.4 Future Outlook (2007-2011)
            6.4.1 Growth in Retail Sales
            6.4.2 Growth in Food Retail Sales
            6.4.3 Growth in Non-Food Retail Sales
            6.4.4 Retail Sales - By Format
            6.4.5 Retail Sales - By Region
     6.5 Mergers & Acquisitions 

7. Key Players
     7.1 Ramstore (Ramenka)
     7.2 Auchan
     7.3 Metro AG
     7.4 Pyaterochka
     7.5 Magnit 

8. Appendices
     8.1 Foreign Direct Investment and Government Plicies
            8.1.1 Foreign Direct Investment
            8.1.2 Property/Real Estate
            8.1.3 Corporate Income Tax
            8.1.4 Value-added Tax
            8.1.5 Unified Social Tax
            8.1.6 Simplified Tax System for Small/Medium Companies
            8.1.7 Customs Code
            8.1.8 Advertising Law