Russia Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Russia Home Appliances Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

Russian home appliances market is witnessing growth in its market revenue with the improving technology and the rising demand for appliances. The home appliances market can be broadly categorized into major and small home appliances. The major home appliances, like refrigerators and washing machines, have their presence in most of the households, owing to their functionalities. Although they have a high presence rate in the region, the demand for these appliances can still be seen, as most of the sales of these appliances are replacement sales. Russians are showing greater interest in the products that are technologically sound. They replace their major appliances once they reach the age of 6-10 years. Most of the market is driven by innovation, connectivity, automatic, and scheduling features that the products own. Thus, owing to these factors, the market is witnessing growth. Major appliances constitute a major share of the total revenue generated. The emerging demand for smart appliances is the major factor that is driving the market for home appliances in Russia. Although online purchases accounted for a small share of the market, they are expected to witness significant growth in the forecast period, considering the shift they recorded in the study period.

Key Market TrendsOnline Sales are Witnessing a Major Share of the Market

Although more than 80% of Russians still prefer to buy major appliances from retail stores, the number of people who consider internet sales was doubled in 2018, as compared to 2014. Numerous practices of online retailers can be considered as the major reason for this shift, and it is expected to increase gradually in the future. Brand loyalty is comparatively high when it comes to the major appliances, and consumers are willing to experiment with brands and their features in small appliances category, like coffee makers and toasters, only if the prices are not high. Consumers are preferring products which have priority functionality, and which brings convenience into their lives.

Dominant Major Appliances Sales are Increasing the Total Revenue Generation of the Market

Major appliances are generating a greater market share in the region. Customer choices are making a transition. They are shifting to an innovative and energy-efficient product for their daily utilization. Several manufacturers are focusing on automating people’s daily activities, by taking a load from their shoulders. They also improving accuracy and are bringing innovation, by producing multi-utility products than single utility products. Many consumers are preferring major appliances that bring convenience to their lives.

Competitive Landscape

The report covers major international players operating in the Russian home appliances market. The market is already fragmented with growing number of smaller players, who are offering moderate quality products in an affordable range of prices. However, the growing small appliances segment holds a scope for new commers to enter the market.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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