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Microwaves is set to record positive growth in 2020, despite the outbreak of COVID-19. This will lead to volume growth of 1% in 2020, led by freestanding microwaves.
Despite positive volume growth predicted for 2020, the majority of consumers are reaching for lower priced appliances, with the outbreak of COVID-19 increasing price-sensitivity, particularly for those out of work. Therefore, more expensive models with sophisticated features saw a dip in sales, in favour of more affordable options.
In line with demand for affordable basic models of microwaves during 2020, international players, second-ranked LG Electronics and third-ranked Samsung Electronics, are set to lose retail volume share in addition to suffering double-digit declines in volume sales. Although traditionally, brands such as LG and Samsung are associated with good quality and offer a wide range of products, supported by strong distribution and marketing budgets, their higher prices are putting them at a disadvantage during a price-sensitive time.
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Overview
Discover the latest market trends and uncover sources of future market growth for the Microwaves 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 Microwaves industry in Russia, our research will save you time and money while empowering you to make informed, profitable decisions.
The Microwaves in Russia market research report includes:
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This industry report originates from Passport, our Consumer Appliances 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.