Luxury Writing Instruments and Stationery in Russia

PROSPECTS

Economic stabilisation continues to benefit the category

In general, economic and political stabilisation continued, which contributed to the category’s moderate performance in retail current value terms in 2018. Considering the category’s high dependence on imports, lower exchange rate volatility in 2017 and the first half of 2018 resulted in modest unit price growth, compared with the sharp fluctuations witnessed during the 2014-2016 recession.

Tax-free system and growing tourism flows support growth

The introduction of a tax-free system in 2018 encouraged tourists to spend more on luxury writing instruments due to more beneficial unit prices. The system was primarily launched in the cities hosting World Cup football matches, which attracted tourists, and encourage them to spend more on luxury items as gifts and souvenirs, including writing instruments.

Store-based retail continues to shrink while online develops

Distribution problems continued in luxury goods retail in Russia. After the significant recession, there was a wave of store closures in the centres of luxury shopping such as Moscow and St Petersburg.

COMPETITIVE LANDSCAPE

Well-known brands maintain leadership

The strongest and best-known brands with established distribution networks and good brand recognition and awareness among consumers continued to lead the category. Well-established international brand Montblanc remained the leader thanks to good distribution, a diversified product range, and an effective marketing strategy that included an advantageous pricing policy and the regular introduction of novelties.

Limited editions and novelties to drive sales

The introduction of unique collections and innovations remained important ways to attract consumers. Many players produced limited editions and novelties with a World Cup theme.

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