In spite of the economic shock of the pandemic, the rate of growth in retail current value sales of home audio and cinema reached its highest level in more than a decade during 2020, as local consumers spent much more time at home due to COVID-19. Retail current value sales will continue to expand during 2021, albeit at a slower rate.
Home audio and cinema will remain a fairly consolidated competitive environment in 2021, with the four largest players (LG Electronics Rus 000, Philips OOO, Sony Electronics ZAO and Samsung Electronics Rus OOO) accounting for almost two thirds of retail current value sales. All of these brands have a good reputation for quality among local consumers, and their products are widely distributed.
Already accounting for close to half of retail current value sales of home audio and cinema in 2019, e-commerce surged in popularity as a distribution channel for these products during 2020, as pandemic restrictions forced electronics and appliance specialist retailers to close their stores for an extended period. This led some of these retailers to pay more attention to online sales.
Retail current value sales of home audio and cinema will continue to decline throughout the forecast period. Demand for Hi-Fi speakers and other home audio and cinema will be particularly weak, as these products continue to be gradually eclipsed by wireless speakers.
Retail current value sales of home cinema and speaker systems will decline steadily during the forecast period. Some local consumers will trade up in terms of their television purchases once they feel more financially secure, particularly as the pricing of both LCD TVs and OLED TVs is set to decline.
Only audio separates will exhibit growth in retail current value sales in home audio and cinema over the course of the forecast period. This will largely be due to the enduring popularity of these products with audiophiles and hobbyists.
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Understand the latest market trends and future growth opportunities for the Home Audio and Cinema industry in Russia with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
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Home Audio and Cinema
Home audio and cinema consist of Audio Separates, Home Cinema & Speaker Systems, Hi-Fi Systems and Other Home Audio & Cinema.See All of Our Definitions
This report originates from Passport, our Home Audio and Cinema research and analysis database.
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