Home and garden in Russia posted stable current value growth in 2018 compared to 2017. As with the majority of FMCG markets, home and garden is directly impacted by the general situation of the country’s economy.
Gardening emerged as a major trend amongst local consumers, benefiting home and garden in 2018. With Russians’ purchasing power stagnating at time but declining for many, summer houses or “dachas” continued to gain in popularity as locations for socialising, taking a holiday and additional food source through Russians growing their own produce.
A visible shift of consumers towards economy home and garden products with stringent efforts by smaller local and international players shaped the competitive landscape in Russia in 2018. Although this shift did not result in major positional changes within the category, it continued to force some major players to reconsider their attitudes to the market.
The distribution of home and garden remained fairly stable at the end of the review period. Internet retailing continued to gain value share and recorded double-digit value growth; as the example of Ikea’s collaboration with Russia Post indicates, online sales are predicted to record even faster growth over the forecast period.
Home and garden’s performance over the forecast period is predicted to record higher current value growth compared to the review period, which will be linked to the increased VAT rate from January 2019, which is expected to add momentum to inflation, further hampering purchasing power. Apart from the increasing VAT, other payments and taxes are expected to rise during the forecast period, making the task to significantly revive consumer purchasing power even more difficult.
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This industry report originates from Passport, our DIY and Gardening market research database.