May 7, 2021

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HOME REGIONS Russia & CIS › Russian market exceeds US$5.5 billion in first quarter

Russian market exceeds US$5.5 billion in first quarter

by Stuart Wilson, Monday 22 June 2015

Research house GfK’s latest analysis of the ICT, telecoms and consumer electronics market in Russia indicates that the total market value hit US$5.52 billion in the first quarter of 2015. GfK reckons that demand froze in the first quarter after a sales boom in the last quarter of 2014. GfK stated: “After the Rouble exchange rate fell in late 2014, prices of technical consumer goods increased between 15% and 40%, depending on the sector.”

GfK continued: “Consumers who did not make purchases in December 2014 are now searching for products, not only because of their technical features but also for affordable prices. There is no shortage of goods, but purchases depend on the family budget.”

GfK’s TEMAX research measures the size of the ‘technical consumer goods’ market, which includes the following product categories: consumer electronics; photo; major domestic appliances; small domestic appliances; IT; telecoms, office equipment and consumables.

In the consumer electronics space, there were some bright spots. Ultra high definition TVs remained in demand while set-top boxes and soundbars registered a positive performance in value terms.

In the IT space, GfK noted a shift from mid-range to entry-level models in the main product categories. The IT market value declined by 21.7% in value terms year-on-year to hit US$1.31 billion in the first quarter of 2015. There was a reduction in tablet sales despite some mobile operators coming up with subsidised sales offers for some models.

GfK noted: “The IT market is still fuelled by the retail stock available and prices could increase in the second quarter of 2015.”

GfK is an official Event Partner for DISTREE Russia & CIS 2015 and will deliver a keynote speech as well as briefing sessions throughout the event.

Media Partnership

We are pleased to confirm that Channel EMEA is an official Media Partner for all DISTREE events in 2015, including DISTREE Russia & CIS.

DISTREE Russia & CIS 2015, which takes place from June 24-26th in St. Petersburg, gathers together hundreds of senior executives from the region’s leading ICT & CE e-tailers, retailers, resellers and distributors. Readers requiring more information about DISTREE events in 2015 should contact events@channelemea.com.

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