1. International Consumer Electronics Market
Market size continues to expand
According to statistics and forecasts, the Russian e-commerce market has continued to grow in recent years, especially in the field of consumer electronics. In the first half of 2024, online sales of Russian smartphones increased significantly by 26%, totaling 170 billion rubles. This shows the strong demand for consumer electronics among Russian consumers.
Brand competition is fierce
Chinese and American brands occupy leading positions in the Russian consumer electronics market. Well-known brands such as Apple, Redmi, and Samsung performed well in terms of sales and sales. Apple, in particular, has a clear advantage in terms of sales.
The high-end smartphone market is particularly active, with sales of models priced over 43,000 rubles increasing by 55%, demonstrating Russian consumers’ pursuit of high-quality, high-performance products.
Online channels become mainstream
Russian consumers are increasingly inclined to purchase consumer electronics products through online channels. E-commerce platforms such as Wildberries, Ozon and Yandex Market performed well in the sales of electronic products and electrical appliances, with sales rising sharply year-on-year.
2. Home appliance product market
Market demand resumes growth
Overall demand in the Russian home appliances and electronics market has recovered from the decline in 2022 and continues to grow. Especially in the first quarter of 2024, sales of equipment and electronic products increased by 28% compared with the same period in 2023.
Outstanding performance of Chinese brands
Chinese brands perform well in home appliances. Haier, for example, has become Russia’s leader in sales of washing machines, refrigerators and ovens. This is due to Haier’s advantages in product quality, technological innovation and marketing.
Diverse needs
Russian consumers’ demand for home appliances shows diversified characteristics. In addition to traditional large appliances such as washing machines and refrigerators, the demand for small household appliances such as coffee machines, steamers, ironing systems, and grills is also increasing. In addition, the popularity of care and beauty home appliances such as shavers, massagers, hair dryers and hair straighteners is also growing.
Development of own sales channels
Owned sales channels play an increasingly important role in the Russian home appliance market. Brands can interact directly with consumers through their own sales channels, increase customer loyalty, and not only attract customers’ attention through price.
To sum up, Russia’s international consumer electronics and home appliances markets this year have shown a positive development trend. The market size continues to expand, brand competition is fierce, online channels have become mainstream, and Chinese brands have performed well in the market. In the future, with the continuous advancement of technology and changing consumer needs, these two areas will continue to maintain strong growth momentum.