The world’s biggest retailers are facing a series of political shifts, as their economies begin to transform in the wake of the US election and a potential new administration in Russia.
As Donald Trump becomes the new US president and Russia prepares to elect a new president, the world’s largest retailers have been on edge.
They are also facing the potential loss of the lucrative US market for branded products.
As the country prepares to choose a new leader, a number of the biggest companies are taking a more aggressive stance on the global marketplace.
The US president-elect is expected to nominate an ex-FBI chief, who previously served as the head of the Central Intelligence Agency, to be his first foreign policy adviser.
Trump is expected also to appoint a US-based economist and businesswoman to lead his National Economic Council.
Russia, meanwhile, is facing the same economic challenges as the US, as it struggles to build a strong economy.
It has a $70 billion public debt and is grappling with a massive recession that has seen a huge drop in consumer spending.
Analysts believe that Trump will be keen to appoint experienced leaders to the council, as the Trump administration will be the first to have the task of reshaping a complex economy.
Analyzing the political landscape in Russia, which is a member of the G20 group of nations, the Times of India magazine said that the new administration will bring in a “new and powerful leader for the world of retail,” as the former CEO of Macy’s, Carl Icahn, was seen as a potential candidate for the post.
The Russian retail sector is seen as one of the most important in the world, accounting for more than a quarter of global sales, according to a survey by market research company Euromonitor.
The Russian market accounts for 20% of the world market, according a Bloomberg report.