Market Trends of Russia Kitchen Appliances Industry
Solid Demand Growth For Small Cooking Appliances
In Russia, the demand for smaller cooking appliances stayed the same in 2022. There were a lot of different products on the market, and their sales varied based on trends or how well they worked. Even though the kettle has been and will continue to be the biggest category because it is an essential item in most local homes, its lower-than-average unit price decline has led to a lack of value performance. Fryers remained a smaller category overall, recording an undynamic performance. The health and wellness trend poses a barrier to the stronger potential for fryers because, despite some unhealthy eating habits amongst the common population, the chance to avoid deep-fried options restricts growth.
Over the years, Russia observed a continuous increase in dishwashing machine sales revenue, from a level of USD 711.30 million in the year 2018 to a level of USD 743.3 million in 2021, with a slight decline in 2022 to USD 737.60 million.
Stronger Shift Towards E-Commerce Retailing
Russia's internet population is the sixth largest worldwide, with more and more people using online shopping in different business sectors. It has embraced e-commerce, which is growing ten times faster than the real economy and traditional retail. Online sales account for nearly 4.5% of Russia's total retail turnover, but that has been more or less doubling each year in recent years and is on course to make up about 8% of the retail turnover by 2021.
Over the years, e-commerce observed a continuous increase in penetration rates in the Russian market, from a level of 37.4% in 2018 to 52.4% in 2021. This leads to an obvious change in consumer behavior to increase kitchen appliance purchases through the online channel.
