Russia’s white goods and electronics sales drop by quarter

UrBC, Moscow, September 16, 2015. Sales of household appliances and electronic goods dropped by 26.2% (in physical terms) in Russia in the first half of 2015 compared with a year earlier, Interfax refers to GfK as stating.

In money terms, sales declined by 15.3%, even though these goods actually grew 38% more expensive on average.

‘There is little immediate hope for the market recovery, since the ongoing devaluation of the ruble will most likely keep the inflation rate going up and the demand going down, which makes the year 2016 look very uncertain,’ says GfK Head of Digital Goods Department Mikhail Kulakov.

The only market segment that grew in money terms was the telecommunications one (+1.8%), mainly due to the sales of smartphones, with customers still intent on getting a newer version every now and then. However, in physical terms the demand for these decreased by 6% compared with the first half of 2014.

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