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Learn moreAug 2020
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Lockdown measures in response to COVID-19 in Russia in 2020 compounded the declining demand for home audio and cinema, with many local consumers prioritising their spending on more essential goods such as groceries, medicine and cleaning products. Therefore, further economic uncertainty had a significant impact on demand for these products, with volume sales continuing to decline in Q2 2020, a trend which is predicted to continue into the forecast period as many local consumers were unwilling and unable to invest in big-ticket items.
Home audio and cinema remained a fairly consolidated competitive environment heading into 2020, with leading players such as LG Electronics, Philips, Sony and Samsung holding the lion’s share of volume sales, although smaller names under “others” continued to enter the category with more affordable options at the end of the review period. LG and Sony in particular retain strong brand appeal with trusted quality amongst local consumers, with LG Electronics strengthening its overall leadership in 2020 as it offers an extensive range of products, including home cinema and speaker systems.
Already gaining notable volume share from the previously dominant distribution channel of electronics and appliance specialist retailers, e-commerce continued to record a strong performance in Q2 2020, as consumers of home audio and cinema, unable to visit non-essential store-based retailers during the lockdown, headed online to search for promotional discounts, attractive delivery options and the opportunity to browse different websites comparing prices and products from the safety of their own homes. However, part of this shift in channels is likely to be linked to the established online presence of electronics and appliance specialist retailers, which were keen to capitalise on the closure of their bricks-and-mortar stores during the lockdown.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Home Audio and Cinema industry in Russia with research from Euromonitor's team of in-country analysts.
Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.
If you're in the Home Audio and Cinema industry in Russia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Home Audio and Cinema in Russia market research report includes:
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This industry report originates from Passport, our Consumer Electronics market research database.
Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.